French Lawmakers Back Stablecoin Swap Tax by Just One Vote

What happened: France's National Assembly adopted amendment I-3898 to the 2027 budget by one vote, treating crypto swaps into MiCA-regulated stablecoins as taxable sales from January 1, 2027. Key numbers: 100 deputies took part: 38 for, 37 against, 25 Why it matters: The government opposed the measure, with Public Accounts Minister David Amiel asking for it to be withdrawn, arguing stablecoins need a legal definition and the state must trace portfolio reallocations. None of the measures is law yet; the Assembly votes on the full revenue section Tuesday, then the budget goes to the Senate.

France's National Assembly adopted amendment I-3898 to the 2027 budget by one vote, treating crypto swaps into MiCA-regulated stablecoins as taxable sales from January 1, 2027.

The government opposed the measure, with Public Accounts Minister David Amiel asking for it to be withdrawn, arguing stablecoins need a legal definition and the state must trace portfolio reallocations. None of the measures is law yet; the Assembly votes on the full revenue section Tuesday, then the budget goes to the Senate.