According to Decrypt, French lawmakers passed a narrow amendment supporting a tax on swapping cryptocurrency for euro or dollar stablecoins. The measure would take effect in 2027 and apply gains calculated individually per coin swapped. The vote was decided by just one vote in favor.
The amendment targets transactions where users exchange native cryptocurrencies—such as Bitcoin or Ethereum—for stablecoins pegged to the euro or U.S. dollar. Under the proposal, each such swap would be subject to tax treatment based on the value of the crypto asset at the time of conversion. The tax framework does not apply to swaps between different cryptocurrencies or to holdings remaining in crypto form.
The change reflects ongoing efforts by French authorities to clarify tax obligations for common crypto activities. No details were provided regarding rate calculations, exemption thresholds, or enforcement mechanisms. The measure remains an amendment and has not yet been finalized into law.
