Odaily Planet Daily report: This week, the French National Assembly’s Finance Committee approved two cryptocurrency tax amendments: effective January 1, 2027, exchanging MiCA-regulated stablecoins will be treated as a taxable sale; and a departure tax will be imposed on households relocating abroad whose combined cryptocurrency assets exceed €800,000.
On October 9, the committee rejected the budget revenue section by a vote of 31 to 3. The full National Assembly will review the government’s original text, and the aforementioned amendments will not be automatically included; supporters must reintroduce them during the debate beginning on October 13. The formal vote is scheduled for October 20. The measures have not yet become law.
The stablecoin amendment, proposed by left-wing GDR group member Nicolas Sansu and 16 co-signatories, applies to electronic money tokens as defined by MiCA. The amendment does not establish a new tax rate but instead proposes to include related gains within France’s existing flat tax rate of 31.4%.
The committee also adopted an amendment proposed by Daniel Labaronne, allowing investors to carry forward losses from crypto assets for 10 years to offset future gains. The proposed exit tax applies to taxpayers who have been French tax residents for at least six of the past ten years and whose combined value of crypto assets, including custodied assets, exceeds €800,000. (Decrypt)