France’s National Assembly rejected the first part of the 2027 finance bill by 458 votes to none, with two abstentions, provisionally removing the cryptocurrency tax measures adopted during debate. The rejected provisions include taxation of certain conversions to stablecoins and mandatory reporting of self-custodied crypto wallets holding assets worth at least EUR 100,000. An increase in the financial transaction tax, which would have raised the rate to 0.5% for standard transactions and 0.1% for certain operations, and the so-called “gigabyte tax” have also been removed from the bill. The proposal will now be considered by the Senate from November 20, ahead of a vote scheduled for December 9 and a possible joint parliamentary committee meeting. Some measures could therefore be reintroduced, while the government is considering, among other options, using Article 49.3 or, if necessary, adopting the budget by ordinance from December 18.
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