France's National Assembly finance committee voted to tax crypto swaps into stablecoins and to apply the exit tax to large crypto holdings when residents leave the country. Then it rejected the whole revenue section of the budget, so both amendments have to be filed again on the floor before the vote. None of it is law yet, but France is now debating taxes on Bitcoin holders who never cash out. For Bitcoin, that debate alone is a signal that large holders are on the radar even when they never sell.