France rejects 2027 budget revenue section, sidelining stablecoin tax and self-custody reporting amendments

The French National Assembly rejected the revenue section of the 2027 state budget by a 458-0 vote, removing crypto amendments that would tax crypto-to-stablecoin gains, require disclosure of self-custodied holdings above 100,000 euros, and raise penalties for non-compliant crypto platforms to 50,000 euros. The government will send the original budget text to the Senate, where the proposals could still be reintroduced and enacted through the remaining legislative process.