France · CoinDesk
France's parliament approves vote to hit stablecoin trades with 31% capital gains tax
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French lawmakers narrowly approved a proposal to tax gains when investors swap cryptocurrency for stablecoins, bringing the transactions a step closer to falling under the country’s 31.4% capital gains levy.
Key facts
- The National Assembly adopted amendment the reporter-3898 to the 2027 budget on Oct. 16 by 38 votes to 37, with 25 abstentions
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- The proposed changes would apply to transactions from Jan. 1, 2027
- French lawmakers narrowly approved a proposal to tax gains when investors swap cryptocurrency for stablecoins, bringing the transactions a step closer to falling under the country’s 31.4% capital
Summary
French lawmakers approved taxing crypto-to-stablecoin swaps at the 31.4% capital gains rate. Critics warn the levy may push traders toward DeFi platforms and offshore exchanges. The National Assembly adopted amendment the reporter-3898 to the 2027 budget on Oct. 16 by 38 votes to 37, with 25 abstentions. The proposed changes would apply to transactions from Jan. 1, 2027.