Update
France Imposes 31.4% Tax on Crypto-to-Stablecoin Transactions
France's parliament has passed legislation to impose a 31.4% capital gains tax on transactions converting cryptocurrencies into stablecoins, aligning these transactions with existing private crypto gains taxation. The measure, which concerns conversions into certain MiCA-regulated stablecoins, has passed a narrow vote in the National Assembly but has yet to become law. This development suggests a shift in France’s approach to stablecoins and increased regulatory scrutiny on crypto transactions not involving fiat currency.