France Panel Backs Crypto Exit Tax Over €800,000 and Stablecoin Swap Tax

France’s National Assembly Finance Committee approved two amendments that would extend the country’s exit tax to large crypto portfolios and treat crypto-to-stablecoin swaps as taxable sales, Coincentral reported. Both measures are written to take effect on January 1, 2027, but neither is law: the committee subsequently rejected the budget’s entire revenue section on a 31 to 3 vote on October 10, meaning the amendments do not carry forward on their own and the full Assembly will work from the government’s original budget text.

Cryptobriefing reported that the exit tax measure is filed as Amendment I-CF1822 and the stablecoin measure as Amendment I-CF1826, with the latter adopted on October 7-8, 2026. That outlet dates the rejection of the revenue section to October 9, 2026, while Coincentral places it on October 10. Lawmakers must reintroduce both measures when floor debate on the revenue section opens October 13, with a vote scheduled for October 20.

Key facts

• The exit tax amendment, filed by lawmaker Nicolas Sansu with 16 co-signers, would apply to crypto holdings exceeding €800,000 when a taxpayer moves their residence outside France.
• It works through article 167 bis of the French tax code, the same provision used for stock holdings, and requires the person to have been a French tax resident for at least six of the past ten years.
• The stablecoin amendment would count a swap into a regulated stablecoin as a sale, measured against the original purchase price, and would apply to tokens defined under MiCA, the European Union’s crypto regulation.
• A third amendment from lawmaker Daniel Labaronne, which also passed committee, would let crypto investors carry losses forward for ten years to offset future gains.
• The committee rejected the budget’s revenue section, so none of the crypto amendments are included in the government text the full Assembly will start from.

What the two taxes would change

The exit tax borrows its structure from the regime France already applies to shares: the same €800,000 threshold, similar residency tests, and payment deferral options modeled on the stock rules. Departing taxpayers would have to list all their crypto holdings as of their departure date, including assets held abroad or in self-custody wallets. Swaps between two cryptocurrencies with no cash involved would not count as a sale under this rule.

The stablecoin measure addresses a different gap. Cryptobriefing noted that previous law did not apply France’s exit tax to directly held cryptocurrency portfolios, creating a disparity between crypto and traditional financial assets. On stablecoins, a swap into a regulated token currently triggers no tax in France; the amendment would make it a taxable event but does not set a new rate, applying France’s existing flat tax, which Coincentral reported rose to 31.4% this year. The stablecoin change runs through article 150 VH bis, the provision covering capital gains on digital assets held by individuals, and the same crypto-to-crypto carve-out applies.

Why it matters

The direct impact falls on high-net-worth individuals with large crypto portfolios who are considering a move out of France, and on active traders who move in and out of stablecoins as part of routine positioning. If the stablecoin rule survives, each conversion into a regulated token becomes a taxable event rather than a neutral transfer. The ten-year loss carryforward would let investors who realize losses in a downturn bank them against later gains, mirroring the treatment stock investors already receive.

What to watch

The floor debate on the revenue section begins October 13, 2026, and a vote is scheduled for October 20. If the amendments are reintroduced, pass, and survive the rest of the legislative process, both rules would take effect January 1, 2027. This is not financial advice, and the rules and market conditions around crypto taxation remain subject to change.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: CoinCentral, Cryptobriefing