In France, exchanging crypto for stablecoins may soon be taxed at 31.4%, even if you haven’t withdrawn a single euro. The French National Assembly has just approved this amendment by a vote of 38 in favor and 37 against. Previously, swapping crypto for crypto without cashing out was tax-deferred. If enacted, the new rule would take effect on January 1, 2027. Even the Minister of Budget has requested the withdrawal of this amendment due to its impracticality. It passed by just one vote and still faces several more review stages. But if approved, French users are likely to shift toward DeFi and foreign exchanges.
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