TLDR
- France’s National Assembly Finance Committee approved amendments taxing crypto-to-stablecoin swaps and adding an exit tax for wealthy crypto holders.
- The committee then rejected the entire budget revenue section, so the amendments do not carry over automatically.
- The exit tax would hit crypto holdings over €800,000 for people who move their tax residence abroad, starting January 1, 2027.
- The stablecoin swap tax would treat converting crypto into regulated stablecoins as a taxable sale.
- Lawmakers must reintroduce both measures when floor debate opens October 13, with a vote set for October 20.
France’s lawmakers are trying to close what they call gaps in how the country taxes crypto. This week, the National Assembly’s Finance Committee approved two amendments aimed at crypto holders.
🇫🇷JUST IN: France moves to hit crypto holders with an EXIT TAX if they leave with over €800,000.
It would apply to French tax residents moving abroad with over €800,000 in crypto, including coins on exchanges.
Lawmakers also want swapping crypto into stablecoins to count as a… pic.twitter.com/2Ur9HbJK72
— Coin Bureau (@coinbureau) October 10, 2026
One amendment would create an exit tax. It would apply to people whose crypto holdings are worth more than €800,000 when they move their tax residence outside France.
The other amendment targets stablecoin swaps. It would treat converting crypto into a stablecoin as a taxable sale, rather than a tax-free move.
What the Exit Tax Would Require
The exit tax amendment was filed by lawmaker Nicolas Sansu along with 16 co-signers. It works through article 167 bis of the French tax code, the same rule used for stock holdings.
To qualify, a household’s crypto must exceed €800,000. The person also needs to have been a French tax resident for at least six of the past ten years.
This threshold matches the one already applied to shares. Payment deferral options would also mirror the stock rules.
Taxpayers would need to list all their crypto holdings on the date they leave. This includes assets held abroad or in self-custody wallets.
Swaps between two cryptocurrencies, with no cash involved, would not count as a sale under this rule.
How the Stablecoin Tax Would Work
The second amendment deals with stablecoins, which are tokens tied to a currency like the dollar or euro. Right now, swapping crypto into a stablecoin in France triggers no tax.
Under the new rule, that swap would count as a sale starting January 1, 2027. The gain would be measured against the original purchase price.
The rule would apply to tokens defined under MiCA, the European Union’s crypto regulation. The amendment does not set a new tax rate. It would simply apply France’s existing flat tax, which rose to 31.4% this year.
A third amendment, from lawmaker Daniel Labaronne, also passed. It would let crypto investors carry losses forward for ten years to offset future gains, similar to stock investors today.
None of these changes are law yet. On October 10, the committee rejected the budget’s entire revenue section by a vote of 31 to 3.
That means the full Assembly will start from the government’s original budget text. The crypto amendments are not included in that text.
Lawmakers who want the measures included will need to file them again. Floor debate on the budget’s revenue section begins October 13.
A vote is scheduled for October 20. If the amendments pass and survive the rest of the process, both new rules would take effect on January 1, 2027.
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