France promotes stablecoin tax plan and ten-year cryptocurrency loss exemption

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法国议会通过加密货币税收修正案：稳定币交易征税与十年亏损结转

法国议员已批准对2027年预算提案中的多项加密货币税收修正案。其中包括将加密货币转换为符合条件的稳定币纳入征税范围，以及允许投资者将交易亏损向后结转长达10年。

稳定币转换将于2027年起征税

根据法国国民议会记录，财政委员会于10月7日通过了关于稳定币征税的修正案（I-CF1826）。该修正案由议员尼古拉·桑苏（Nicolas Sansu）提交，规定自2027年1月1日起，将加密货币转换为符合资格的电子货币代币将被视为应税交易。

目前的法国税法通常允许个人在不立即确认资本利得税的情况下，将一种加密货币兑换为另一种加密货币，前提是交易符合适用的递延规定。此前，比特币或以太坊等转换为锚定美元或欧元等传统货币的稳定币时，也可享受同等待遇。然而，桑苏的提案旨在取消这一豁免，依据欧盟《加密资产市场法规》（MiCA），投资者接收电子货币代币的交易将被纳入税务监管。

修正案的解释指出，现有规则允许投资者将增值的加密货币转换为法币支持稳定币，从而规避直接出售传统货币时需缴纳的税款。尽管在现行税务框架下稳定币被视为数字资产，但它们可用于支付和购买其他加密货币。该提案要求使用处置价值与资产收购成本之间的差额来计算相关交易的收益或损失，并允许扣除记录的 TRANSACTION 费用以确定处置价值。

对于在2027年1月1日之前购买的加密货币，投资者有两种确定其收购成本的方法：

使用单个资产的 documented purchase prices（文档化购买价格）；
或者，基于各资产在2026年12月31日的各自价值，将该投资组合截至该日期的总收购成本分配给当日持有的资产。

选择投资组合分配方法的纳税人，需在提交涵盖提议实施日期后首次应税处置的纳税申报表时，做出不可撤销的选择。尽管财政委员会已采纳该修正案，但该措施尚未获得议会的最终批准，原定的1月实施日期仍需经过立法程序确认。

加密货币亏损可结转10年抵扣

At the same time, the Finance Committee also approved another amendment (I-CF798) submitted by Daniel Labaronne to change the way losses on cryptocurrency trading are treated. The amendment allows qualified digital asset disposal capital losses to be carried forward back for 10 years and offset the realized qualifying gains during that period.

Under the existing framework, eligible private cryptocurrency disposal losses can usually only be offset against gains in the same tax year, and unused losses cannot be used to offset gains in subsequent years. Labaronne's proposal would give investors longer time to use these losses to calculate taxable cryptocurrency profits. For example, if an investor records qualifying losses in a tax year but the gains are insufficient to offset them, he can apply those unused amounts to qualifying gains in future years (subject to final legislation).

It should be noted that this amendment only involves tax deductions for realized losses and does not provide direct compensation to investors who suffer losses due to the depreciation of their cryptocurrency positions.

Rich people will face cryptocurrency "departure tax" when moving overseas

Another proposal considered during the budget review was to introduce a "departure tax" on certain cryptocurrency positions. When a taxpayer moves his tax residence abroad, the tax will apply to certain eligible crypto assets.

财政委员会于10月8日通过了由尼古拉·桑苏提交的修正案（I-CF1822）。该提案针对超过80万欧元的符合条件的加密货币持仓所产生的未实现收益，需满足修正案规定的条件。法国目前已有针对某些金融资产在纳税人迁移税务居住地至境外时的离境税框架，此修正案旨在将符合条件的加密货币持仓纳入相关的税务处理范围。

与传统出售资产不同，拟议的离境税关注的是在满足适用居住地和资产条件的情况下产生的未实现收益。委员会的批准并不意味着该税种已生效，其最终范围和适用性取决于议会通过的立法。

DAC8指令下的合规挑战与进展

与此同时，法国正在根据欧盟DAC8指令实施新的加密货币报告要求。该规则已于2026年1月1日在整个欧盟生效，要求受管辖的加密服务提供商收集客户身份信息及交易信息，并向税务机关报告。

DAC8报告框架涵盖加密货币与法币之间的兑换、加密资产之间的交易，以及涉及外部钱包地址的某些转账。收集的信息可能包括客户姓名、税务识别号、税务居住地以及符合条件的交易详情。根据报告时间表，涵盖2026日历年的信息预计将于2027年在参与国税务机关之间进行交换。该指令确立了服务提供商的报告义务，但本身并不使每一笔报告的加密货币转账成为应税事件。

法国实施DAC8的过程面临法律挑战。9月17日，法国最高行政法院驳回了Bull Bitcoin和Paymium提出的紧急诉讼，这两家公司反对法国实施报告规则的法令。Bull Bitcoin辩称，收集和集中有关加密货币用户的详细信息可能会使客户面临安全风险，尤其是鉴于犯罪分子针对数字资产持有者的事件频发。最高行政法院在认定所需紧迫性未得到证实后，驳回了紧急暂停请求。该决定并未解决针对法令本身的单独诉讼程序，后者当时仍处于待定状态。

France's tax reporting obligations are part of the EU framework, although governments retain responsibility for implementing the directive and enforcing applicable requirements. Other European countries are also clarifying how their domestic reporting obligations apply to cryptocurrency positions. For example, in September, the Spanish Revenue Authority confirmed how self-custodial wallets are treated under Form 721, stating that assets in wallets directly controlled by taxpayers do not fall under foreign custody reporting requirements. Spanish guidelines distinguish between wallets controlled by the owner and cryptocurrencies held through foreign third-party custodians. Transactions involving self-managed wallets may still generate a report record under DAC8 when they pass through a regulated service provider.

Currently, the French Finance Council's latest cryptocurrency tax amendment is still part of the 2027 budget review and requires further parliamentary review before the proposed provisions take effect.