France Crypto Tax Changes Could Impact Stablecoin Swaps

France’s proposed crypto tax changes cleared committee votes but face another hurdle: lawmakers must reintroduce them after the National Assembly Finance Committee rejected the budget’s entire revenue section on October 10, 2026. The proposals would tax qualifying stablecoin swaps and impose an exit tax on eligible holders moving abroad with more than €800,000 in crypto assets.

Key takeaways

• France’s crypto tax amendments are not yet law.
• Covered stablecoin conversions would face the existing 31.4% flat tax.
• A separate proposal offers ten-year loss carryforwards.
• Budget floor debate starts October 13, 2026.

According to CoinCentral, the committee rejected the revenue section by 31 votes to 3, despite earlier approving the crypto measures. The full Assembly will therefore begin with the government’s original budget text, which excludes those amendments.

Both proposed tax rules have a January 1, 2027 start date, subject to passage through the remaining legislative process. A third amendment would extend the period investors have to offset eligible crypto losses against future gains.

France’s crypto tax changes target eligible holders moving abroad

The proposed exit tax would cover certain unrealized gains when eligible taxpayers move their tax residence outside France. It applies to households with crypto holdings exceeding €800,000 and requires the departing taxpayer to have held French tax residence for at least six years during the preceding ten years.