France's parliament approves 31.4% capital gains tax on crypto-to-stablecoin trades

French lawmakers narrowly passed amendment I-3898 on Oct. 16, removing tax deferral for MiCA-compliant stablecoin trades starting Jan. 1, 2027. The 31.4% capital gains tax will apply when investors swap cryptocurrency for stablecoins, even if funds remain in crypto. Critics warn the move may push trading toward decentralized finance platforms and offshore exchanges.