France has postponed to November 3 the budget vote on a measure that would tax crypto swaps into single-currency stablecoins starting in 2027. Amendment I-3898 to the 2027 budget was narrowly approved by the National Assembly on October 16 by 38 votes to 37, with approximately 100 out of 577 deputies participating. If enacted, gains from swaps into these tokens would become taxable events from January 1, 2027, subject to France’s flat tax rate of 31.4 percent, broken down into 12.8 percent income tax and 18.6 percent in social contributions. A full Assembly vote is scheduled for November 17, 2026, and the French government itself has raised concerns about the complexity of tracking such transactions.
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