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France advances stablecoin tax, eyes self-custodial wallets and exit tax proposals

France's National Assembly adopted Amendment I-3898 by 38 votes to 37, with 25 abstentions, which would tax gains when crypto such as Bitcoin is swapped into stablecoins, even without converting to fiat; if enacted, it could apply from 2027. The calculation would use the acquisition cost of the sold asset and the weighted average purchase price. The same day, the Assembly rejected a proposal to carry forward realized crypto losses for 10 years, by 18 votes to 75 with 3 abstentions. Two proposals remain under consideration for the 2027 Finance Bill: Amendment I-CF1822 would extend the exit tax to unrealized gains for portfolios above €800,000 ($895,000) when taxpayers move their residence abroad, and Amendment I-2701 would require declaring self-custodial wallet holdings above €100,000 ($112,000).

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