$BTC
France is going after stablecoins too
From now on, even swapping your crypto profits for USDC could mean paying tax
Damn
Guys,
France is really going hard with this move
On October 16 local time,
the French National Assembly passed, by 38 votes to 37,
a tax amendment targeting the conversion of crypto assets into stablecoins
Do you know how tough this proposal is?
Starting January 1, 2027,
it plans to tax eligible conversions of crypto assets into certain stablecoins
at France’s current capital gains tax rate of 31.4%
Pay attention, guys:
it’s only the eligible gains that would be taxed,
not all stablecoins
Put simply,
you only pay tax if you’ve made a profit
What does this mean?
It means France could become one of the first countries in Europe to clearly define how stablecoins are taxed
If it goes through,
the rest of the EU could follow suit
In the past, many people could put off paying taxes
They’d make a profit
but instead of converting it to euros,
they’d first swap it for stablecoins
Things may be different from now on
The regulator’s thinking is:
you’ve already realized a profit,
so even if you fucking swap it for stablecoins,
you could still have to pay tax
The key point isn’t how scary the 31.4% figure is
It’s that France’s move carries a lot of symbolic weight
But for now, this bill is only an amendment
It doesn’t mean it’s officially law yet
There’s still a legislative process to go through
Still, we should pay attention to the signal it’s sending
#法国众议院通过稳定币税修正案
France is going after stablecoins too
From now on, even swapping your crypto profits for USDC could mean paying tax
Damn
Guys,
France is really going hard with this move
On October 16 local time,
the French National Assembly passed, by 38 votes to 37,
a tax amendment targeting the conversion of crypto assets into stablecoins
Do you know how tough this proposal is?
Starting January 1, 2027,
it plans to tax eligible conversions of crypto assets into certain stablecoins
at France’s current capital gains tax rate of 31.4%
Pay attention, guys:
it’s only the eligible gains that would be taxed,
not all stablecoins
Put simply,
you only pay tax if you’ve made a profit
What does this mean?
It means France could become one of the first countries in Europe to clearly define how stablecoins are taxed
If it goes through,
the rest of the EU could follow suit
In the past, many people could put off paying taxes
They’d make a profit
but instead of converting it to euros,
they’d first swap it for stablecoins
Things may be different from now on
The regulator’s thinking is:
you’ve already realized a profit,
so even if you fucking swap it for stablecoins,
you could still have to pay tax
The key point isn’t how scary the 31.4% figure is
It’s that France’s move carries a lot of symbolic weight
But for now, this bill is only an amendment
It doesn’t mean it’s officially law yet
There’s still a legislative process to go through
Still, we should pay attention to the signal it’s sending
#法国众议院通过稳定币税修正案