Big news: By a one-vote margin, the French Parliament has closed the tax loophole of “swapping coins into U to hide for a bit” 🇫🇷
On October 16, the French National Assembly passed an amendment to the crypto tax rules in the 2027 budget bill, with 38 votes in favor, 37 against, and 25 abstentions.
The core change can be summed up in one sentence: starting January 1, 2027, exchanging crypto assets for e-money stablecoins like USDC and EURC under the MiCA framework will be treated directly as a sale.
🔹 Before: Swapping coins into U could defer taxes, and you only settled the bill when you converted back to euros. If the market was bad, you could move into stablecoins first to avoid risk, and you did not have to pay tax right away
🔹 After: The moment you swap into U, any profit is taxable, at a flat rate of 31.4%
🔹 What gets taxed is the gain, not the total amount exchanged
But don’t jump to conclusions yet: this has only passed its first reading, the full budget still needs to be voted on, and the Senate also has to approve it. There are still several hurdles before it officially takes effect.
My take: For many people, stablecoins are basically a “parking lot,” and this move is aimed squarely at that use case. If other countries follow suit, the cost of “swapping into U and waiting” during bull-bear transitions will rise significantly.
Do you usually park your profits in stablecoins first?
#拉脱维亚议会通过加密货币税法 #BTC #ETH
On October 16, the French National Assembly passed an amendment to the crypto tax rules in the 2027 budget bill, with 38 votes in favor, 37 against, and 25 abstentions.
The core change can be summed up in one sentence: starting January 1, 2027, exchanging crypto assets for e-money stablecoins like USDC and EURC under the MiCA framework will be treated directly as a sale.
🔹 Before: Swapping coins into U could defer taxes, and you only settled the bill when you converted back to euros. If the market was bad, you could move into stablecoins first to avoid risk, and you did not have to pay tax right away
🔹 After: The moment you swap into U, any profit is taxable, at a flat rate of 31.4%
🔹 What gets taxed is the gain, not the total amount exchanged
But don’t jump to conclusions yet: this has only passed its first reading, the full budget still needs to be voted on, and the Senate also has to approve it. There are still several hurdles before it officially takes effect.
My take: For many people, stablecoins are basically a “parking lot,” and this move is aimed squarely at that use case. If other countries follow suit, the cost of “swapping into U and waiting” during bull-bear transitions will rise significantly.
Do you usually park your profits in stablecoins first?
#拉脱维亚议会通过加密货币税法 #BTC #ETH