France’s National Assembly finance committee voted last week to approve several cryptocurrency tax amendments, according to Euronews. The proposals would impose an exit tax from 2027 on residents holding more than €800,000 in crypto assets if they move abroad. The scope would cover tokens held on foreign platforms as well as assets in self-custodied wallets, though the tax rate has not yet been specified. For moves within the European Union, taxpayers could apply to defer payment, and the tax could be waived after holding the assets for two to five years.
The package also includes a mandatory reporting rule for self-custodied wallets valued at more than €100,000 at year-end. Failure to declare them could lead to fines of up to €10,000. In addition, crypto-to-stablecoin conversions would be brought under France’s existing flat 31.4% tax regime.
The measures are not yet final. Euronews said the committee rejected the budget revenue section by 31 votes to 3, which means the amendments must be resubmitted on Tuesday. Another vote is scheduled for Oct. 20, and the full bill is set for a vote on Nov. 17 before being sent to the Senate.
France’s National Assembly finance committee voted last week to approve several cryptocurrency tax amendments, according to Euronews.
Under the proposals, residents holding more than €800,000 in crypto assets who move abroad would face an exit tax starting in 2027. The measure would apply to tokens held on foreign platforms and to assets kept in self-custodied wallets. The tax rate has not been specified.
For relocations within the European Union, taxpayers could apply to defer payment. The tax could be waived after the assets have been held for two to five years.
Separately, self-custodied wallets worth more than €100,000 at the end of the year would be subject to mandatory reporting. Failure to declare them could bring fines of up to €10,000. Crypto-to-stablecoin conversions would also be included in the current flat 31.4% tax regime.
The amendments still face more votes. Euronews reported that the committee rejected the budget revenue section by 31 votes to 3, requiring the measures to be resubmitted on Tuesday. Another vote is scheduled for Oct. 20, and the full bill will go to a vote on Nov. 17 before being sent to the Senate.
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