French National Assembly Finance Committee Approves Cryptocurrency Tax Amendments, Budget Revenue Portion Rejected

The Finance Committee of the French National Assembly approved two cryptocurrency tax amendments this week: starting from January 1, 2027, exchanges of stablecoins regulated by MiCA will be considered taxable sales; a departure tax will be imposed on tax households relocating abroad with a total value of cryptocurrency assets exceeding €800,000. On October 9, the committee rejected the budget revenue portion with a vote of 31 to 3. The full National Assembly will review the original text from the government, and the amendments must be reintroduced during the debate starting on October 13, with a formal vote scheduled for October 20. The stablecoin amendment was proposed by Nicolas Sansu, a member of the left-wing GDR group, and applies to electronic money tokens as defined by MiCA, with related revenues incorporated into France's current unified tax system of 31.4%. The committee also passed an amendment allowing investors to carry forward cryptocurrency losses for 10 years to offset future gains. The proposed departure tax applies to taxpayers who have been French tax residents for at least 6 of the past 10 years.