France’s National Assembly rejected the revenue section of the 2027 draft finance bill by 458 votes to zero, wiping out three weeks of debate and amendments. The bill now returns to the Senate in the original version submitted by the Lecornu government in early October, without the changes adopted by deputies. A 31.4% tax on conversions from cryptocurrencies into MiCA-compliant stablecoins, approved by a single vote on 16 October, disappeared after nineteen days. Parliament has 70 days to adopt a budget, while Sébastien Lecornu retains the option of using the 49.3 procedure, ordinances or a special law. Debt charges in the draft finance bill reach 91.2 billion euros amid inflation of 3.4% in October.
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