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French Assembly adopts amendment to tax crypto‑to‑stablecoin swaps at 31.4% capital gains
The measure would subject French cryptocurrency holders to a 31.4% capital gains tax each time they exchange crypto for a stablecoin. The amendment was discussed as part of the 2027 Finance bill and passed by a narrow 38‑37 vote with 25 abstentions, with only 100 of 577 MPs participating. Currently such exchanges are untaxed, and the proposal aims to close that regulatory loophole. If enacted, the tax would become effective on January 1, 2027, pending a Senate vote. Analysts say the change could push holders toward alternative assets.