A single vote has shaped the direction of crypto tax policy in France. The French National Assembly passed Amendment I-3898 on Friday, October 17, 2026, after 38 lawmakers voted in favor, 37 against, and 25 abstained.
Starting in 2027, swapping Bitcoin or other crypto assets into stablecoins will be officially classified as a taxable event. The tax will apply directly to the exchange transaction, even without any conversion to fiat currency. This provision alters reporting obligations for digital asset holders in France ahead of the first-round budget vote.
Calculation Formula and Committee History
Amendment I-3898 was not an unexpected measure introduced out of nowhere on the assembly floor. Lawmaker Nicolas Sansu originally submitted a draft designated I-CF1826, which had previously been adopted during committee deliberations on October 7.
The tax calculation is based on the acquisition cost of the crypto assets disposed of and the weighted average purchase price of the relevant assets. Under this method, the value of each conversion is calculated directly at the time the transaction takes place. The National Assembly is scheduled to hold a vote on the first part of the 2027 budget bill this coming Tuesday.
Proposed 10-Year Loss Carryforward Rejected
While the tax provision passed by a razor-thin margin, an offsetting proposal for investment losses was rejected in the same session. The National Assembly voted down a proposal that would have allowed a 10-year loss carryforward for crypto assets.
The vote on the loss compensation proposal concluded with 75 lawmakers against, 18 in favor, and 3 abstaining. This separate vote ensures that taxpayers cannot roll over crypto investment losses from prior years to offset their current tax liabilities.
Two Additional Proposals Still Pending
Tax obligations in France could still expand as deliberations on other pending articles continue. As of Monday, October 19, 2026, parliament is still weighing two additional amendments concerning capital holders and self-custody storage.
The first proposal, Amendment I-CF1822, introduces an exit tax on unrealized gains for residents relocating abroad with crypto portfolios valued at over €800,000, or approximately $895,000. The second proposal, numbered I-2701, requires the declaration of self-custodial wallets if their value surpasses €100,000, or roughly $112,000, within a single tax year.
For crypto asset holders in France, Tuesday’s upcoming vote will determine whether the new tax obligations stop at stablecoin swap transactions or extend to private wallet ownership and plans to move abroad.
Dilansir dari Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
