French National Assembly Finance Committee Backs Proposals to Tax Certain Crypto Swaps
The French National Assembly Finance Committee backed two proposed crypto tax amendments to the 2027 budget. It subsequently rejected the budget’s revenue section, so these are not valid rules.
The French National Assembly Finance Committee backed proposed amendments to the 2027 budget on October 7 and 8 concerning the taxation of certain crypto-asset swaps and the extension of the exit tax to unrealized gains from crypto assets.
These are not enacted laws, however. Both amendments passed only at the committee stage during the budget bill’s first reading. The committee also rejected the proposal’s revenue section on October 9 by 31 votes to 3, with 2 abstentions.
Finance Committee and the Proposed Tax on Crypto Swaps
Amendment I-CF1826, approved on October 7, would end the tax deferral for swapping crypto assets for electronic money tokens under MiCA starting January 1, 2027.
If adopted in its final form, the proposal could make certain conversions of cryptocurrencies into fiat-pegged stablecoins a taxable event at the time of the swap. The exact scope of the stablecoins concerned and the technical transitional rules may change during the legislative process.
The committee’s approval of the amendment therefore does not, by itself, change the tax obligations of cryptocurrency holders in France.
Proposal Also Extends Exit Tax to Crypto Assets
On October 8, the committee approved Amendment I-CF1822, concerning the extension of the exit tax to unrealized gains from crypto assets. If included in the final wording of the law, the proposal could increase tax risk when major crypto holders change their tax residency.
Media reports mentioned a threshold of 800,000 euros in crypto assets. This parameter cannot yet be considered an effective rule or a final legal interpretation.
Rejecting the Revenue Section Is Not the End of the Process
On Friday, October 9, the Finance Committee rejected the revenue section of the 2027 budget bill. The vote does not mean the final rejection of France’s entire budget or the automatic demise of the two crypto amendments.
The budget proposal continues through the parliamentary process. Members of the National Assembly may retain, amend or reject Amendments I-CF1826 and I-CF1822 in plenary. The subsequent process in the Senate and the final wording of the enacted law will then be important.
What to Watch Next
- The outcome of the National Assembly’s consideration of Amendments I-CF1826 and I-CF1822.
- Further legislative action on the 2027 budget, including consideration in the Senate.
- Any official tax guidance if the new rules are ultimately adopted.
Sources
- Assemblée nationale — Amendment I-CF1826 – Confirms the wording and committee approval of the amendment concerning swaps of crypto assets for electronic money tokens.
- Assemblée nationale — Amendment I-CF1822 – Confirms that the committee approved an amendment concerning crypto assets and the exit tax on October 8.
- Assemblée nationale — Search for amendments to PLF 2027 – Provides the status and approval dates of the relevant crypto amendments in committee.
- LCP — Budget 2027: rejection of the revenue section – Confirms the committee’s rejection of the budget’s revenue section on October 9 by 31 votes to 3, with 2 abstentions.
Verified and updated: 10/10/2026 15:22
