France’s National Assembly voted 38-37 on October 16 to adopt amendment I-3898 during the first reading of its 2027 budget. The proposal would end the current tax deferral for certain crypto-to-crypto exchanges when the asset received is an electronic money token under the EU’s MiCA definition. That could affect conversions from $BTC or $ETH into qualifying fiat-referenced stablecoins.
The proposed start date is January 1, 2027. The vote involved 100 lawmakers: 38 supported the amendment, 37 opposed it and 25 abstained. The measure does not automatically cover every asset marketed as a stablecoin, since the legal definition of the token received matters.
Crucially, the amendment is not law. The wider budget still faces further parliamentary steps, and the provision could change or disappear before enactment. No new tax obligation arises from this vote alone.
The proposed start date is January 1, 2027. The vote involved 100 lawmakers: 38 supported the amendment, 37 opposed it and 25 abstained. The measure does not automatically cover every asset marketed as a stablecoin, since the legal definition of the token received matters.
Crucially, the amendment is not law. The wider budget still faces further parliamentary steps, and the provision could change or disappear before enactment. No new tax obligation arises from this vote alone.