French Amendment Would Tax Stablecoin Swaps From 2027
French lawmakers backed an amendment by a single vote that would make crypto-to-stablecoin swaps taxable from 2027, with gains assessed coin by coin.
French lawmakers have approved an amendment that would treat conversions of crypto into euro- or dollar-denominated stablecoins as taxable events in France starting in 2027, according to Decrypt. The measure cleared the chamber by a one-vote margin.
The proposal would calculate gains on a coin-by-coin basis, so each disposal into a stablecoin would be assessed individually rather than against an overall portfolio total.
What the amendment targets
The change would affect a common practice among crypto holders: shifting value into stablecoins without cashing out to a bank account. Under the amendment, that step would no longer defer a tax liability.
Because the amendment passed by only one vote, its wording could still be revised as the wider budget legislation proceeds through the French parliament. The source did not detail reporting obligations or other implementation rules.
The provision's final status depends on the remaining legislative stages; beyond the proposed 2027 start date, no further timetable or enforcement details were specified.