ImportantFrance Proposes 31.4% Capital Gains Tax on BTC-to-Stablecoin Trades, Mandates Reporting of Self-Custody Wallets Exceeding €100,000
French lawmakers have tabled multiple digital asset tax amendments during the 2027 budget deliberations. First, the existing 31.4% capital gains tax will be extended to Bitcoin-to-stablecoin transactions, applying exclusively to stablecoins that meet the MiCA e-money token definition, such as USDC. Second, an exit tax will be imposed on entities holding over €800,000 in digital assets that relocate their tax residence outside of France. Third, reporting of self-custody holdings valued at no less than €100,000 will be required, with maximum fines of €10,000 for non-compliance. Fourth, loss carryforwards will be permitted for a 10-year period. The National Assembly Finance Committee voted 31 to 3 against the budget revenue section on October 9, requiring all related amendments to be resubmitted. The revenue section was originally scheduled for a vote on October 20, and none of the provisions have been enacted into law to date.
Source: PANewsRead original
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