The French National Assembly has approved an amendment to the law on cryptocurrency taxation for 2027.

Investors who convert BTC and other cryptocurrencies into stablecoins will be subject to capital gains tax even without converting to fiat. In France, the rate for individuals is 31.4%. The proposal was supported by 38 lawmakers, with 37 voting against and 25 abstaining.

The bill must go through the rest of the budget process before it becomes law. Other cryptocurrency-related proposals remain under consideration. In particular, a provision to carry forward realized cryptocurrency losses for 10 years failed. These measures had already been adopted, but were previously rejected as part of the main 2027 budget.

The French authorities also want crypto exchanges to conduct checks on DeFi protocols and be held responsible for client losses. They intend to add these provisions to the updated MiCA rules.