France's Parliament Approves Vote to Tax Stablecoin Swaps at 31%, Final Vote Moved to Nov. 3
French deputies approved by a single vote an amendment that would end tax deferral for conversions of crypto into single-currency stablecoins, according to The Defiant. The measure would apply to swaps into euro- or dollar-pegged tokens, with gains calculated coin by coin, according to Decrypt.
CoinDesk reports the measure would impose a France's parliament approves vote to hit stablecoin trades with 31% capital gains tax.
capital gains levy on crypto-to-stablecoin trades. Under current French rules, converting crypto into stablecoins is treated as remaining within the crypto asset class and is not a taxable event; the amendment would change that starting in January 2027, according to The Defiant.
The proposal was first tied to a budget vote scheduled for Oct. 20, according to The Defiant. That vote has since been moved to Nov. 3, per a later Defiant report, and the tax measure remains subject to further parliamentary votes before any enactment.
If passed in its current form, the change would mark a shift in how France treats stablecoin conversions for tax purposes, moving them from a deferred-gains framework to one where swaps trigger immediate capital gains liability.
Sources: The Defiant, CoinDesk, Decrypt
This article is for information only and is not financial advice.
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