French Assembly Backs Tax on Crypto-to-Stablecoin Swaps by One Vote
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French lawmakers backed an amendment to the 2027 budget by a one-vote margin that would change tax treatment for crypto-to-stablecoin swaps, but the proposal is not yet final law. The amendment would end tax deferral for swaps into single-currency stablecoins from January 1.
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French crypto users and investors are the people most directly affected tomorrow morning, because the change is aimed at how swaps into single-currency stablecoins are treated for tax purposes. In practical terms, a transfer from Bitcoin into a stablecoin could be treated as taxable before any euros are withdrawn to a bank account. This is the same change that lawmakers approved by one vote, but it is not yet final law.
What changes in practice is the tax deferral that applied to swaps into single-currency stablecoins, which the amendment would end from January 1. What does not change yet is the legal status of the proposal, because it remains an amendment to the 2027 budget rather than final law. Until that is settled, the existing tax treatment is not replaced by a completed rule.
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