France is now taxing crypto swaps into stablecoins too
38 to 37 — a one-vote margin
That’s how the French National Assembly voted on October 16
Starting in 2027
Swapping crypto into USDC, EURC and the like
will count as a sale
And gains will be taxed at 31.4%
Until now in France, you could keep deferring tax by swapping one crypto for another
You only had to settle up when you converted back to euros
If prices fell, you could move into stablecoins to ride it out without paying a cent in tax
Now, you’ll have to pay tax on that swap
This is only the first reading
The full budget still has to be voted on, and the Senate has to approve it too
Actual tax collection is still a long way off
If other European countries follow suit
stablecoins may no longer be a safe haven
#法国众议院通过稳定币税修正案 $USDC
38 to 37 — a one-vote margin
That’s how the French National Assembly voted on October 16
Starting in 2027
Swapping crypto into USDC, EURC and the like
will count as a sale
And gains will be taxed at 31.4%
Until now in France, you could keep deferring tax by swapping one crypto for another
You only had to settle up when you converted back to euros
If prices fell, you could move into stablecoins to ride it out without paying a cent in tax
Now, you’ll have to pay tax on that swap
This is only the first reading
The full budget still has to be voted on, and the Senate has to approve it too
Actual tax collection is still a long way off
If other European countries follow suit
stablecoins may no longer be a safe haven
#法国众议院通过稳定币税修正案 $USDC