France wants to tax your $BTC profits even if you never cash out to euros.
A French parliamentary committee backed amendment I-CF1826, which would make swaps from cryptocurrencies like $BTC and $ETH into qualifying MiCA-regulated stablecoins taxable from January 1, 2027.
That means moving profits into a stablecoin could trigger capital gains tax without withdrawing money to a bank.
But here's the important update: This is NOT law yet. The committee subsequently rejected the budget's revenue section, meaning the amendment must be reintroduced and approved during parliamentary proceedings.
Other proposals include a 10-year crypto loss carryforward and an exit tax targeting certain crypto holdings above €800,000.
The bigger question is whether taxing stablecoin conversions would discourage trading and liquidity in France.
Should swapping crypto into stablecoins count as cashing out?
A French parliamentary committee backed amendment I-CF1826, which would make swaps from cryptocurrencies like $BTC and $ETH into qualifying MiCA-regulated stablecoins taxable from January 1, 2027.
That means moving profits into a stablecoin could trigger capital gains tax without withdrawing money to a bank.
But here's the important update: This is NOT law yet. The committee subsequently rejected the budget's revenue section, meaning the amendment must be reintroduced and approved during parliamentary proceedings.
Other proposals include a 10-year crypto loss carryforward and an exit tax targeting certain crypto holdings above €800,000.
The bigger question is whether taxing stablecoin conversions would discourage trading and liquidity in France.
Should swapping crypto into stablecoins count as cashing out?