France's National Assembly Finance Committee approved proposals this week to tax conversions into fiat-pegged stablecoins and extend the country's exit tax to crypto investors. MP Nicolas Sansu submitted Amendment I-CF1826, which the committee adopted Wednesday. The amendment would make crypto conversions into fiat-pegged stablecoins taxable events from Jan. 1, 2027. The explanatory text describes the current tax treatment as a legislative loophole, according to a machine translation.
Taxable gains would be calculated using the acquisition cost of the assets disposed of. The calculation would use a weighted average for holdings of the same token bought at different prices. Investors could incur capital gains taxes without converting crypto into fiat if the proposal becomes law. The full Assembly is scheduled to begin examining the 2027 Finance Bill on Tuesday, Oct. 13.
The committee also adopted MP Daniel Labaronne's Amendment I-CCF798 on Wednesday. The amendment would allow investors to carry forward realized crypto losses for 10 years. An exit tax amendment adopted Thursday would cover unrealized gains when taxpayers with household crypto holdings worth more than 800,000 euros ($895,000) transfer their residences abroad.
Greece's Ministry of National Economy and Finance published a draft bill on Wednesday proposing a 10% tax on individuals' crypto capital gains. The draft bill would exempt annual gains of up to 500 euros ($560). However, unlike France's proposed tax on conversions, Greece's proposal would leave crypto-to-crypto exchanges untaxed.
France and other European Union members must apply the bloc's tax reporting rules under the eighth amendment to the Directive on Administrative Cooperation (DAC8). DAC8 requires crypto service providers to collect users' identities and transaction data and report the information to national tax authorities. National tax authorities then exchange the information with counterparts across EU member states. The crypto reporting requirements began applying on Jan. 1, 2026. The first exchanges of information covering 2026 transactions are due by September 2027.