法国委员会支持稳定币互换税和加密货币退出税，随后否决预算案

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Finance Committee of the French National Assembly plans to impose new taxes on cryptocurrency holders

This week, the Finance Committee of the French National Assembly voted to approve a proposal to tax holders who convert cryptocurrencies into stablecoins (tokens pegged to a single official currency such as the US dollar or the euro), and to impose a departure tax on wealthy holders who migrate abroad. However, those votes may have no material impact at this time: On Friday, the committee rejected the entire revenue portion of the budget with a vote of 31 to 3. Therefore, the plenary session of the National Assembly will start deliberations from the government's original text and no longer include the previously proposed cryptocurrency amendments.

Since the committee's amendments will not be automatically incorporated into the text, supporters must resubmit their proposals in full debate that begins on October 13. At present, neither of these two measures has yet become law and still need to go through the remaining legislative process.

Stable coin transactions trapping taxes

The stablecoin amendment, proposed by Nicolas Sansu, a member of the leftist GDR group, and his 16 co-signatories, aims to fill so-called "legislative loopholes." Under France's current tax law, there is no tax on converting Bitcoin into stablecoins, because the state only taxes the proceeds when they are realized into legal tender or consumed. The amendment covers electronic currency tokens as defined by the European Union's Cryptocurrency Markets Regulation (MiCA), a category that includes most stablecoins pegged to a single currency. From January 1, 2027, conversion into stablecoins will be considered a sale, and the proceeds will be calculated based on the holder's original cost.

The amendment does not specify a specific tax rate, but instead invokes France's unified tax system. Starting from January 1, 2027, with the 2026 social protection Financing Act raising the proportion of social contributions from 17.2% to 18.6%, the unified tax rate has increased to 31.4%. The authors emphasize that they are not creating new burdens, but are applying existing laws to situations previously omitted. They believe that stablecoins can be used as ordinary investment vehicles, such as consumption at crypto service providers or purchase other tokens, so it is unreasonable to allow such conversions to defer taxation and will cause earnings to evade regulation under the unified tax system.

Departure tax extended to cryptocurrencies

The second amendment proposed by Sansou aims to extend France's departure tax to cryptocurrencies. The departure tax is for unrealized earnings and is triggered when a taxpayer changes his tax resident status overseas.

根据该提案，若一个税务家庭的加密货币总价值（包括通过托管机构持有的资产）超过80万欧元，且纳税人在过去10年中至少有6年是法国税务居民，则从2027年1月1日起需缴纳此税。该门槛与现有股票适用的标准一致，延期支付规则也借鉴了股票制度。对于不涉及现金部分的加密货币之间的互换，不计入离境税意义上的出售行为。纳税人需在搬迁日期提交所有持有的加密货币清单，包括在海外或自行保管（即用户自主控制而非通过交易所控制的钱包）的资产。

作者指出，当前直接持有的加密货币可规避离境税，而同等价值的股票则不能，并强调了数字资产跨境转移的便捷性。

亏损结转及其他相关动态

丹尼尔·拉巴罗恩（Daniel Labaronne）提出的另一项修正案也在委员会获得批准。该修正案允许投资者将加密货币亏损向后结转10年，用于抵消未来收益，这与股票的处理方式相同；而目前未使用的亏损无法结转。

Looking back at history, the French National Assembly first reviewed and approved a tax amendment that included cryptocurrencies in late October 2025. With a result of 163 votes in favor and 150 votes against, it decided to impose a 1% annual tax on "unproductive" wealth and include digital assets along with gold and yachts. Lawyer Burçak Ünsal told Decrypt that taxing early token holders may be economically unreasonable.

In addition, Coinbase announced in October 2024 that it would remove stablecoins that do not comply with MiCA regulations for European customers before December 30, 2024, and guide users to switch to compliant tokens such as USDC and EURC.

The full house debate on the revenue portion of the budget will begin on October 13, and the formal vote is scheduled to be held on October 20. If these measures are reintroduced and retained, the stablecoin and departure tax regulations will take effect from January 1, 2027.