The French National Assembly passed the 2027 budget amendment with 38 votes in favor, 37 votes against, and 25 abstentions, proposing to cancel the deferred tax treatment for cryptocurrency exchange for a single currency stablecoin from January 1, 2027, and include related transactions in the scope of capital gains taxation. When investors exchange encrypted assets for stablecoins pegged to fiat currencies such as euros and US dollars, they are required to pay capital gains tax at a uniform rate of approximately 31.4%. The amendment was proposed by French parliamentarians Nicolas Sansu and others, and the French Minister of Public Accounts called for its withdrawal. The amendment has only passed the first reading of the National Assembly and still needs to go through the Senate's deliberation and subsequent legislative procedures. (Source: The Defiant)
