French Lawmakers Advance Stablecoin Swap Tax by One Vote
A narrow vote in France backed an amendment taxing crypto-to-stablecoin conversions from 2027, with gains calculated separately for each coin.
French lawmakers have narrowly approved an amendment that would make swaps from crypto into euro- or dollar-pegged stablecoins taxable, according to Decrypt. The measure passed by a single vote.
The proposal would apply from 2027. Gains on those conversions would be assessed on a coin-by-coin basis rather than across a combined holdings calculation, the report said.
What the amendment covers
- Tax treatment would begin in 2027
- The rule targets crypto swaps into euro or US dollar stablecoins
- Gains would be measured separately for each coin
- The amendment passed by a one-vote margin
The vote adds to ongoing debate in France and the wider European Union over how stablecoins and crypto transactions should be taxed. The amendment's approval is a step in the legislative process, and its application would depend on the broader bill becoming law.