France Approves Tax on Stablecoin Swaps, Effective 2027
Current overview (not historical)
France’s National Assembly passed amendment I‑3898, voting 38‑37, to tax the conversion of cryptocurrencies into stablecoins starting in 2027. The measure treats each stablecoin swap as a taxable event, calculating gains using the asset’s acquisition cost and weighted‑average purchase price. The vote rejected extending the 10‑year loss‑carryforward and is now considering reporting obligations for self‑custodial wallets holding more than €100,000. This marks the first European law to target stablecoin trades directly, amid broader debates over crypto regulation and fiscal policy.
Written with AI from the reporting · updated 10/20/2026
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- 1Unclassified fact stationOct 18, 00:00recorded Oct 19, 18:46revised
法国通过稳定币税改革，将加密货币兑换稳定币视为应税事件
Read original source ↗ CointelegraphReplay this moment in the explorerEvidence & revisions · 3 source records
- Subject：
- French National Assembly
- Action：
- 通过了修正案 I-3898
- Object：
- 加密货币兑换稳定币
- Occurred (fact side)：
- Oct 18, 00:00
- Published (valid side)：
- Oct 19, 18:22
- First seen (known side)：
- Oct 19, 18:46
- Published (valid side)：
- Oct 20, 19:25
- First seen (known side)：
- Oct 20, 19:41
- Published (valid side)：
- Oct 20, 22:04
- First seen (known side)：
- Oct 20, 22:20
Fact stationRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 2Unclassified fact stationOct 16, 00:00recorded Oct 20, 13:33single sourcerevised
法国议员通过加密资产税提案，稳定币换币需确认收益
Read original source ↗ CryptoSlateReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- french-parliament
- Action：
- 投票通过税收提案
- Object：
- 加密资产换币
- Occurred (fact side)：
- Oct 16, 00:00
- Published (valid side)：
- Oct 20, 12:40
- First seen (known side)：
- Oct 20, 13:33
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 3Unclassified fact stationOct 16, 00:00recorded Oct 20, 22:45single source
法国国民议会通过加密货币转入稳定币征税修正案
Read original source ↗ BeInCryptoReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- 法国国民议会
- Action：
- 投票通过加密货币转入稳定币征税修正案
- Object：
- 加密货币转入稳定币
- Occurred (fact side)：
- Oct 16, 00:00
- Published (valid side)：
- Oct 20, 22:16
- First seen (known side)：
- Oct 20, 22:45
Fact stationSingle source · one-sided claimCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
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- BeInCryptoRelated fact: single sourceFrench lawmakers pass crypto-to-stablecoin tax amendment amid cost-of-living protests
Report first recorded Oct 20, 22:45
French lawmakers voted to tax crypto investors converting profits into stablecoins, passing the amendment by 38 votes to 37 with 25 abstentions. The measure would make such conversions taxable from January 1, 2027, if the budget becomes law, ending the current deferral of crypto-to-crypto taxation. The move comes amid nationwide protests over living costs, where hundreds of thousands marched and some demonstrations turned violent. The government argues the tax targets tax fairness, while protesters have not specifically demanded the stablecoin tax. The proposal still requires further parliamentary scrutiny before becoming law.
Read original source ↗ - DecryptSource report revisedFrench National Assembly passes stablecoin swap tax amendment by one vote
Report first recorded Oct 20, 22:20
France's National Assembly passed a budget amendment by a single-vote margin, treating swaps from cryptocurrency into MiCA-regulated stablecoins as taxable sales from 2027. The amendment, led by left-wing lawmaker Nicolas Sansu, aims to close a tax loophole, though it still faces the full budget process and faces industry backlash over a separate wallet reporting proposal.
Read original source ↗ - CoinDeskSource report revisedFrance's parliament approves 31.4% capital gains tax on crypto-to-stablecoin trades
Report first recorded Oct 20, 19:41
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.
Read original source ↗ - CryptoSlateRelated fact: single sourceSource report revisedFrench MPs advance crypto tax bill, removing deferral on stablecoin swaps
Report first recorded Oct 20, 13:33
French lawmakers approved amendment I-3898 in the first reading of the 2027 finance bill, eliminating tax deferral for crypto-to-crypto exchanges into MiCA e-money tokens. This means gains from swapping assets like Bitcoin or Ethereum into stablecoins will be taxed immediately, even if proceeds remain in crypto. The amendment passed with 38 votes in favor, 37 against, and 25 abstentions. A separate proposal to allow 10-year crypto loss carryforwards was rejected.
Read original source ↗
- CointelegraphSource report revisedFrench lawmakers approve crypto-to-stablecoin tax amendment, targeting 2027 implementation
Report first recorded Oct 19, 18:46
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.
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