French Committee Backs Stablecoin Swap Tax and Crypto Exit Tax, Then Rejects the Budget
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France’s National Assembly Finance Committee voted this week to tax crypto holders who swap into stablecoins—tokens tied to a single official currency, such as the dollar or the euro—and to charge an exit tax on wealthy holders who move abroad.
Key facts
- The Assembly adopted another crypto-inclusive tax in first reading in late October 2025, voting 163-150 for an amendment creating a 1% annual levy on “unproductive” wealth above €2 million
- The amendment names no rate and defers to France’s flat tax, which rose to 31.4% on Jan. 1 after the 2026 social-security financing law lifted the social-charge portion from 17.2% to 18.6% — It would apply when a tax household’s combined crypto, including holdings kept through custodians, is worth more than €800,000 and the taxpayer was a French tax resident for at least six of the previous 10 years, for moves from Jan
- Coinbase said in October 2024 it would delist stablecoins that fail to comply with MiCA for European customers by Dec. 30, pointing them toward compliant coins like USDC and EURC
Summary
France's Finance Committee adopted an amendment treating swaps of crypto into MiCA-regulated stablecoins as taxable sales from Jan. 1, 2027, and another extending the exit tax to crypto held by households worth more than €800,000. The committee then rejected the budget's revenue section on Oct. 9 by 31 votes to 3, so the floor debate starts from the government's original text. A third adopted amendment would let investors carry crypto losses forward for 10 years; the Assembly debates the revenue section from Oct. 13 and votes Oct. 20.