Two proposed French tax changes affecting digital assets have been pushed off the immediate legislative track after the National Assembly Finance Committee rejected the revenue section of the 2027 budget bill.

The setback interrupts plans to treat some stablecoin swaps as taxable disposals and to extend France’s exit tax to certain wealthy crypto holders moving abroad. For now, neither measure is expected to advance automatically when the full Assembly takes up the budget.

Committee vote halts automatic progress

The turning point came when the Finance Committee voted down the revenue section of the 2027 budget bill. Because that part of the budget did not clear the committee stage, amendments tied to it are not expected to be carried forward in the usual way when the National Assembly begins full deliberations.

That procedural defeat matters for the digital-asset provisions because both proposals were attached to the revenue section. Without that section moving ahead from committee, the tax changes lose their direct route into the broader budget debate.

Stablecoin swap tax proposal

Before the revenue section was rejected, the committee had approved an amendment aimed at transactions involving stablecoins. The proposal would have treated swaps from digital assets into electronic money tokens as sales for tax purposes.

Under that approach, a holder exchanging one crypto asset into a qualifying stablecoin would potentially trigger taxation on any gain created by the transaction. The measure therefore sought to change the treatment of a type of trade that some market participants may not currently view in the same way as a cash-out event.

Exit tax expansion for wealthy crypto holders

The committee had also backed a second amendment focused on taxpayers leaving France. That proposal would have broadened the country’s exit tax so that wealthy digital-asset holders relocating abroad could be taxed on unrealized gains.

As described in the budget debate, the measure targeted individuals whose crypto wealth had appreciated but had not yet been sold. In effect, the amendment would have applied taxation at the point of relocation rather than waiting for a later disposal of the assets.

What happens next

The rejection of the revenue section does not necessarily end the effort, but it means the amendments will not move forward on their own. If lawmakers want either proposal revived, they would need to submit the measures again during floor deliberations in the National Assembly.

The next confirmed milestones are close. The Assembly is scheduled to examine the revenue section on Oct. 13, with a vote set for Oct. 20. Those sessions will determine whether the digital-asset tax measures are reintroduced or remain sidelined from the 2027 budget process.

Source: en.bloomingbit.io