French lawmakers approve crypto-to-stablecoin tax amendment, targeting 2027 implementation

French National Assembly passed Amendment I-3898 on Friday, making crypto-to-stablecoin swaps potentially taxable starting in 2027. The measure, adopted by 38 votes to 37, would treat conversions of Bitcoin or other cryptocurrencies into stablecoins as taxable events. Gains would be calculated using the acquisition cost of the sold asset and weighted average purchasing price. Separately, lawmakers rejected a proposal to carry forward realized crypto losses for 10 years.