The amendment leaves swaps into stablecoins outside MiCA untouched, and a second measure would extend France's exit tax to crypto holdings above 800,000 euros. The finance committee then rejected the budget section both sat in, so each must be filed again when floor debate opens on October 13.
France's National Assembly finance committee adopted an amendment on October 7 that would end the tax deferral French investors get when they move crypto into regulated stablecoins, treating the swap as a taxable disposal from January 1, 2027.
The measure, numbered I-CF1826 and filed by Nicolas Sansu of the Gauche Démocrate et Républicaine group, amends article 150 VH bis of the General Tax Code. As the rules stand, an individual owes tax when crypto is sold for conventional currency or spent on goods and services, while crypto-to-crypto exchanges are deferred until then. The amendment pulls electronic money tokens, the fiat-referenced category the European Union's MiCA regime for stablecoins, out of that deferral. FinanceFeeds illustrated the effect: 20,000 euros of bitcoin converted into 30,000 euros of qualifying stablecoins would produce a taxable 10,000-euro gain with nothing reaching a bank account.
The amendment's reach stops at the perimeter of that regulation. Cryptoast reported that it would cover only MiCA-regulated stablecoins, which as drafted leaves a conversion into an unregulated dollar token outside its scope. The measure also switches acquisition cost to a weighted average purchase price per asset, with transitional options for pre-2027 positions.
A day later the committee adopted Sansu's second measure, I-CF1822, which extends France's exit tax to unrealized crypto gains. It works through article 167 bis of the tax code, the provision that already catches shareholdings and securities when a taxpayer leaves the country, and it would apply where a household's directly held crypto exceeds 800,000 euros. Clubic reported that the existing requirement of French tax residence for six of the previous ten years carries over. Holdings on foreign platforms and in self-custodied wallets would count toward the threshold, the existing payment deferral and relief mechanisms would remain, and the charge would apply to residence transfers from January 1, 2027.
Three further crypto amendments passed. Charles de Courson of the LIOT group won a requirement to declare self-custodied wallets worth 100,000 euros or more on December 31, with the fine for non-declaration capped at 10,000 euros, and argued it by setting 3.5 billion euros of crypto capital gains in 2021 against 400 million euros of declared assets. Christine Arrighi of the Écologiste et Social group raised the penalty on platforms that refuse to produce documents for the tax authority from 10,000 to 50,000 euros per request; platforms have been reporting client transaction data since January 2026 under the European Union's DAC8 directive. The only relief came from Daniel Labaronne of Ensemble pour la République, whose amendment would let crypto losses be carried forward for ten years, as share losses already can be. Those losses currently cannot be carried from one year into the next.
Five crypto amendments did not survive. Paul Midy lost all three of his: an exemption for crypto payments up to 1,000 euros a year was rejected on October 9, leaving the 305-euro annual disposal threshold in place; a twin of Labaronne's loss-carryforward measure fell the same day; and a proposal covering tokens that grant voting rights to protocol contributors was ruled inadmissible under Article 40 of the Constitution, which bars deputies from reducing public revenue without an offset. Eva Sas failed to add crypto to a broader wealth tax base, and Mickaël Bouloux withdrew a measure that would have taxed open-source developers paid in governance tokens on resale rather than on receipt. The nearest US equivalent is narrower still: the US House's own crypto tax bill waives tax on network fees of $10 or less rather than on payments.
The committee then rejected the text all of them sat in. Late on Friday, October 9, it voted down the entire revenue section of the 2027 budget by 31 votes to 3 with two abstentions, a count the parliamentary channel LCP reported and both Journal du Coin and Clubic carried. Only deputies from Ensemble pour la République voted in favor.
That rejection does not kill the five adopted amendments, and it does not preserve them either. The Assembly opens its floor debate from the government's original text, which contains none of them, so each has to be filed again and voted again. The five that failed in committee can also be brought back.
The revenue section reaches the floor on Tuesday, October 13, with debate running to October 19 and a formal vote on October 20. A vote on the budget as a whole is set for November 17, and the constitutional 70-day deadline falls on December 10, after which the government can apply its budget by ordinance.
The revenue section of the 2026 budget was rejected 404 to 1 in November 2025 and went to the Senate in the government's original form, and that budget was adopted on February 2, 2026 using Article 49.3, the provision that passes a text without a vote. La France insoumise has said it would move to censure the government if the article is used again.
France is not the only European Union member legislating on crypto gains this month. Greece opened consultation on a 10% tax on individuals' crypto gains, below the 15% its officials had signaled in June, and its draft exempts the first 500 euros of gains each year. The French committee's package contains no equivalent allowance.
None of it is law, and the two Sansu measures are written to take effect on January 1, 2027. The first vote of the full chamber that could carry them is the one scheduled for October 20.
