French National Assembly Passes Crypto-to-Stablecoin Tax Amendment by One Vote
France's National Assembly approved a 2027 budget amendment taxing crypto-to-stablecoin swaps at 31.4% capital gains, passing 38-37 with 25 abstentions.
Why it matters
If enacted, the tax would remove the ability for French crypto holders to defer gains by moving into stablecoins, potentially changing trading behavior and reducing stablecoin usage in France. The narrow margin signals political division on crypto taxation.
Where the sources disagree
Terminology for affected tokens
stablecoins / fiat-linked stablecoins
Bitcoin.com News, Crypto News (CryptoNews.net)
single-currency e-money tokens
The Defiant
Bitcoin.com and Crypto News refer to 'stablecoins' or 'fiat-linked stablecoins' while The Defiant's later article uses 'single-currency e-money tokens'
Key facts
The French National Assembly passed Amendment I-3898 to tax crypto-to-stablecoin swaps at 31.4% capital gains tax
31.4 %Reported by Bitcoin.com News
The amendment passed by a 38-37 vote with 25 abstentions
Reported by Bitcoin.com News
Only 100 of 577 deputies participated in the vote
100 deputiesReported by Bitcoin.com News
The amendment was introduced by MP Nicolas Sansu
Reported by Bitcoin.com News
The tax would take effect January 2027 if enacted
2,027 yearReported by Bitcoin.com News
The measure faces a Senate vote before becoming law
Reported by Bitcoin.com News
The amendment targets a tax loophole treating stablecoin conversions differently from fiat cash-outs
Reported by Bitcoin.com News
What happened
The French National Assembly narrowly adopted Amendment I-3898, introduced by MP Nicolas Sansu, which would impose a 31.4% capital gains tax on cryptocurrency-to-stablecoin exchanges starting January 2027. The measure passed 38 votes to 37 with 25 abstentions, with only 100 of 577 deputies participating. The amendment aims to close a tax loophole by treating stablecoin conversions the same as cashing out into fiat currency. The proposal still requires Senate approval and is not yet law. The Defiant reported the measure would end tax deferral for swaps into single-currency e-money tokens.
How the story developed
- First report
First report by Bitcoin.com News
French Assembly Narrowly Adopts Stablecoin Swap Tax Proposal
- Update
National Assembly adopts crypto-to-stablecoin tax amendment
Amendment I-3898 passed 38-37 with 25 abstentions during 2027 Finance bill debate
- Independent corroboration
Independently corroborated by The Defiant
French Assembly Backs Tax on Crypto-to-Stablecoin Swaps by One Vote
- Update
Syndicated coverage repeats Assembly vote details
Crypto News publishes summary of amendment passage and provisions
- Update
The Defiant reports upcoming budget vote deadline
Amendment faces October 20 budget vote before potential Senate consideration
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 17 Oct 2026, 19:30 UTC: Bitcoin.com News, official — 1 independent source, 1 reports
- 17 Oct 2026, 19:42 UTC: The Defiant — 2 independent sources, 2 reports
- 18 Oct 2026, 16:03 UTC: Crypto News (CryptoNews.net) — 3 independent sources, 3 reports
- 20 Oct 2026, 11:25 UTC: CoinDesk — 4 independent sources, 5 reports
- 20 Oct 2026, 13:20 UTC: CoinGape — 5 independent sources, 7 reports
- 20 Oct 2026, 13:51 UTC: Unchained — 6 independent sources, 8 reports
- 20 Oct 2026, 14:04 UTC: Decrypt — 7 independent sources, 9 reports
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | French Assembly Narrowly Adopts Stablecoin Swap Tax Proposal | Original | |
| CoinDesk Crypto media | France's parliament approves vote to hit stablecoin trades with 31% capital gains tax | Independent | |
| Unchained Crypto media | French Lawmakers Back Tax on Crypto-to-Stablecoin Swaps by a Single Vote | Independent | |
| Decrypt Crypto media | French Lawmakers Back Stablecoin Swap Tax by Just One Vote | Independent | |
| The Defiant Crypto media | French Assembly Backs Tax on Crypto-to-Stablecoin Swaps by One Vote | Independent | |
| The Defiant Crypto media | France Moves Budget Vote Carrying Stablecoin Tax to Nov. 3 | Independent | |
| CoinGape Crypto media | France’s Parliament Approves 31.4% Capital Gains Tax on Crypto to Stablecoin Trades From 2027 | Independent | |
| The Defiant Crypto media | France’s Stablecoin Swap Tax Faces Oct. 20 Budget Vote | Syndicated | |
| Crypto News (CryptoNews.net) Aggregator | France’s stablecoin tax proposal could tax crypto-to-stablecoin conversions | Syndicated |
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