Odaily Planet Daily report: The French National Assembly passed a 2027 budget amendment with 38 votes in favor, 37 against, and 25 abstentions, proposing to eliminate the tax deferral benefit for exchanges between cryptocurrencies and single-currency stablecoins, effective January 1, 2027, and to bring such transactions under capital gains taxation.
Under the amendment, investors may be required to pay capital gains tax at the current flat rate of approximately 31.4% when exchanging crypto assets for stablecoins pegged to fiat currencies such as the euro or the dollar, even if they do not convert them into fiat currency.
The amendment, proposed by French MP Nicolas Sansu and others, was previously called for withdrawal by France’s Minister of Public Accounts due to implementation complexity. Currently, the amendment has only passed its first reading in the National Assembly and has not yet become law; it still requires review by the Senate and further legislative procedures. (The Defiant)