France Passes Controversial Stablecoin Tax Law by Slim Margin
The French National Assembly narrowly approved a law to tax crypto-to-stablecoin swaps starting in 2027.
The French National Assembly narrowly approved a law to tax crypto-to-stablecoin swaps starting in 2027. This is an original Token Times brief based on reporting by 99Bitcoins, with live market data added, as of Wed, 21 Oct 2026 16:00:01 UTC.
This law could significantly impact crypto trading strategies in France by imposing taxes on stablecoin conversions, which are currently exempt. It also sets a precedent for how crypto taxation might evolve in other jurisdictions.
- France's National Assembly approved stablecoin swap tax by 38-37 vote
- Tax on crypto-to-stablecoin conversions starts January 1, 2027
- Deputies rejected 10-year loss carryforward proposal 75-18
- Only 100 of 577 deputies participated in the vote
The French National Assembly has passed a controversial amendment to tax crypto-to-stablecoin swaps, with the final vote count standing at 38 in favor and 37 against. This narrow margin reflects the contentious nature of the legislation, which was proposed by communist deputy Nicolas Sansu to close what he perceives as a loophole in existing crypto tax laws.
The law, which will come into effect on January 1, 2027, imposes taxes on investors who convert cryptocurrencies into stablecoins. This move is significant as it targets a common trading strategy used to manage risk and preserve value in volatile markets.
While the tax law was approved by the narrowest possible margin, the Assembly rejected a proposal for a 10-year loss carryforward by a much wider margin of 75 to 18. This suggests a lack of consensus on providing tax relief for crypto investors facing losses.
The vote saw low participation, with only 100 of the 577 deputies casting their votes. This raises questions about the representativeness of the decision and has prompted some to call for a more thorough legislative process.
The development comes amid a period of market recovery, with the total crypto market cap at $2.89 trillion and 
Bitcoin up 1.83% in the last 24 hours. The Fear & Greed index currently stands at 63, indicating a 'Greed' sentiment in the market.
France Passes Controversial Stablecoin Tax Law by Slim Margi — questions & answers
What exactly does the new French crypto tax law do?
It imposes taxes on conversions from cryptocurrencies to stablecoins starting January 1, 2027.
How was the vote split in the French National Assembly?
The vote was 38 in favor and 37 against, with only 100 of 577 deputies participating.
What other proposals were considered alongside the tax law?
A proposal for a 10-year loss carryforward was rejected 75-18.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from 99Bitcoins. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.