French National Assembly Finance Committee Passes Stablecoin Exchange Tax and Crypto Exit Tax Amendments

The Finance Committee of the French National Assembly this week passed two crypto tax amendments: starting January 1, 2027, exchanging stablecoins regulated under MiCA will be treated as a taxable sale; and an exit tax is proposed for tax households relocating abroad with total crypto assets exceeding €800,000. The committee rejected the budget revenue portion by 31 votes to 3, and the full National Assembly will deliberate based on the government's original text, with the above amendments not automatically included—supporters must re-propose them during debates beginning October 13, with the formal vote scheduled for October 20. The measures are not yet law. The stablecoin amendment, introduced by left-wing GDR group member Nicolas Sansu and 16 co-signatories, applies to electronic money tokens as defined by MiCA. The amendment sets no new tax rate but instead proposes including relevant gains under France's existing 31.4% flat tax regime. The committee also passed an amendment by Daniel Labaronne allowing investors to carry forward crypto asset losses for 10 years to offset future gains. The proposed exit tax applies to taxpayers who have been French tax residents for at least 6 of the past 10 years and hold crypto assets, including custodial assets, with a combined value exceeding €800,000.