Members of Parliament will vote on Tuesday, November 3, on the first part of the 2027 Finance Bill, which covers revenue measures. Their vote will determine the fate of Amendment I-3898, adopted by 38 votes to 37 with 25 abstentions, which ends the tax deferral for conversions of cryptocurrencies into MiCA-compliant stablecoins. From January 1, 2027, the measure could tax conversions of ether into USDC at a flat rate of 31.4%, even if the funds do not enter a bank account. If the revenue provisions are rejected, all adopted amendments would fall and the government’s original text would be sent to the Senate, which could reintroduce the measure. The budget’s final outcome remains uncertain because the National Assembly already rejected its revenue provisions by a wide margin last year and must still complete the parliamentary process.
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