France’s National Assembly Finance Committee voted 31-3 last Friday to reject the revenue section of the government’s 2027 budget bill, a move that nullified a set of crypto-related tax amendments that had been approved earlier. According to Euronews, the invalidated measures included proposals tied to crypto exit tax rules and taxation of conversions from crypto assets into stablecoins. The proposals will now need to be refiled starting Tuesday.
The committee had previously backed several amendments affecting crypto taxation. Among them was a plan to treat conversions of crypto assets into stablecoins as taxable events starting Jan. 1, 2027. Other measures would have broadened the scope of the exit tax and required taxpayers to declare self-custodied wallets worth more than 100,000 euros at year-end. Failure to report such wallets could have led to fines of as much as 10,000 euros.
Under the current legislative schedule, the National Assembly is set to vote again on the budget’s revenue section on Oct. 20, while a vote on the full bill is scheduled for Nov. 17.
France’s National Assembly Finance Committee voted 31-3 last Friday to reject the revenue section of the government’s 2027 budget bill, invalidating several crypto tax amendments that had been approved earlier, according to Euronews.
The voided measures included amendments covering crypto exit tax rules and taxation on conversions from crypto assets into stablecoins. Those proposals must now be resubmitted starting Tuesday.
Crypto tax measures previously approved by the committee
The committee had earlier passed several crypto-related tax amendments. One proposal would have made conversions of crypto assets into stablecoins taxable from Jan. 1, 2027. Another would have expanded the scope of the exit tax.
A separate amendment would have required taxpayers to declare self-custodied wallets valued at more than 100,000 euros at the end of the year. Failure to file that declaration could have triggered a fine of up to 10,000 euros.
Next votes scheduled in the Assembly
Under the legislative timetable, the National Assembly will vote again on the revenue section of the budget on Oct. 20, and a vote on the full bill is scheduled for Nov. 17.
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