France’s National Assembly rejected the entire “revenue section” of the 2027 budget: 458 votes to 0. Several crypto amendments that had just passed were also dropped from the text sent to the Senate.
Among those dropped: taxing crypto-to-stablecoin exchanges; requiring declarations for self-custodied holdings totaling more than about €100,000; and raising fines for platforms that fail to comply with tax authorities’ information requests from about €10,000 to about €50,000. Note: these provisions fell along with the revenue section; they weren’t rejected in separate votes.
The government will send the original text, without these amendments, to the Senate. Debate is expected to begin there on November 20, and the provisions can still be reinserted. As reported by Cointelegraph / The Defiant. The back-and-forth over Europe’s tax base is far from over. #法国 #加密税 #Stablecoins
Among those dropped: taxing crypto-to-stablecoin exchanges; requiring declarations for self-custodied holdings totaling more than about €100,000; and raising fines for platforms that fail to comply with tax authorities’ information requests from about €10,000 to about €50,000. Note: these provisions fell along with the revenue section; they weren’t rejected in separate votes.
The government will send the original text, without these amendments, to the Senate. Debate is expected to begin there on November 20, and the provisions can still be reinserted. As reported by Cointelegraph / The Defiant. The back-and-forth over Europe’s tax base is far from over. #法国 #加密税 #Stablecoins
