French lawmakers have backed the introduction of a tax on swaps for stablecoins starting January 1, 2027.

The Finance Committee of the National Assembly proposed taxing exchanges of tokens for stablecoins without requiring a mandatory conversion into fiat. They say this would close a legal loophole for tax evasion. In addition, they supported taxing capital outflows from the country for crypto investors with more than €800,000.

Profit will be calculated based on the average purchase price. At the same time, the proposed rules would allow investors to carry forward realized losses from crypto transactions for 10 years. The parliament’s final consideration of the proposals is scheduled for October 13.