France Moves Closer to a 31.4% Tax on Crypto-to-Stablecoin Swaps
• France's National Assembly passed amendment I-3898 by 38–37 with 25 abstentions, ending tax deferral on swaps into MiCA stablecoins.
• From Jan 1, 2027, those swaps would face 31.4% capital gains tax even without cashing out to fiat.
• The finance minister flagged tracking problems, and the amendment can still change before the final budget vote, now set for Nov 3.
If it sticks, expect French users to drift toward DeFi, self-custody and offshore venues.
Not investment advice. DYOR.
• France's National Assembly passed amendment I-3898 by 38–37 with 25 abstentions, ending tax deferral on swaps into MiCA stablecoins.
• From Jan 1, 2027, those swaps would face 31.4% capital gains tax even without cashing out to fiat.
• The finance minister flagged tracking problems, and the amendment can still change before the final budget vote, now set for Nov 3.
If it sticks, expect French users to drift toward DeFi, self-custody and offshore venues.
Not investment advice. DYOR.