French committee backs proposal to tax Bitcoin-to-stablecoin swaps at up to 31.4%

A proposal approved by the finance committee of France’s National Assembly would tax Bitcoin conversions into stablecoins at rates of up to 31.4%, according to a post by Bitcoin News on X. The measure would apply even when crypto is not converted into fiat currency, extending the tax trigger beyond traditional cash-out events. The proposal also includes a potential exit tax on unrealized crypto gains for residents who move abroad while holding more than €800,000 in crypto assets. That would bring unrealized holdings into scope if a taxpayer relocates overseas with a large portfolio. The amendment has not become law. It was withdrawn after the committee rejected the revenue section of the budget and would need to be reintroduced during debate in the full National Assembly. If it is eventually passed, the new rules would take effect on Jan. 1, 2027.