France advances stablecoin tax, eyes self-custodial wallets and exit tax proposals

France’s National Assembly is again handling crypto tax rules, with Amendment I-3898 now through one legislative step and other digital-asset proposals still moving separately. Stablecoins sit at the center of this file because they are being treated differently from broader crypto holdings, which places tax policy on the rails of everyday token use rather than only on exchanges or custody providers. The current debate sits inside France’s wider effort to define how crypto activity should be recorded and taxed under domestic law.

For people who use stablecoins, this points to a possible change in how swaps are treated when they move between crypto and tokenized cash-like assets. Wallet users also have more to watch, because reporting rules for self-custodial wallets remain on the table alongside exit taxes. Builders and service providers in France may need to adjust compliance processes if more of these proposals become law.

The tension is between bringing crypto transactions into the tax net and preserving the low-friction transfers that make stablecoins useful. Self-custody sits at the sharp end of that trade-off, because reporting obligations can reach users who do not rely on a centralized exchange. A narrow 38 to 37 vote also shows that the political line on crypto taxation in France is not settled.

Still open are the fate of the exit tax proposal and the self-custodial wallet reporting measure, both of which remain under consideration in France. The details of how the stablecoin amendment will be applied in practice are also not settled from these notices alone. The next clear marker will be whether the remaining proposals advance through the Assembly and what final wording they carry.