French Lawmakers Narrowly Approve Stablecoin Swap Tax

stablecoin swap tax — French lawmakers have narrowly approved a new tax on stablecoin swaps, passing the controversial amendment by a single vote margin.

The measure, if enacted, would impose a capital gains tax on cryptocurrency conversions into euro or dollar-denominated stablecoins starting in 2027. The proposed rule would require calculating gains on a coin-by-coin basis for each transaction.

The amendment’s passage through the French National Assembly highlights the ongoing debate over cryptocurrency taxation frameworks within the European Union. The close vote underscores the divisive nature of the proposal among legislators.

The tax plan now moves forward as part of broader fiscal legislation. Its implementation would mark a significant shift in the treatment of stablecoin transactions for French crypto users, potentially influencing similar regulatory discussions in other EU member states.