France revisits stablecoin conversion tax as 2027 budget vote nears
- —Amendment passed 38-37 with 25 abstentions
- —From 2027, swapping ETH for USDC would trigger the 31.4% flat tax
- —A €40,000 gain would hand €12,560 to the tax office without any euro withdrawal
- —Tether's USDT, non-compliant with MiCA, would fall outside the measure
Why it matters: A rejection of the budget would wipe out all crypto amendments; if passed, French traders may shift to DeFi and offshore venues.
Source: Journal du Coin