The French National Assembly finance committee adopted on October 7 an amendment imposing capital gains tax as soon as any cryptocurrency is converted into a stablecoin, effective January 1, 2027. This measure, backed by communist deputy Nicolas Sansu, was inspired by a May 2026 op-ed written by three leaders of the French crypto sector: Jean Meyer (Deblock), Pierre Morizot (Waltio), and Damien Patureaux (Lyzi). The government expects to recover 1 to 3 billion euros annually by taxing gains that had previously remained outside the French banking system, at a rate of 31.4%. The Adan, the sector’s main industry association, opposes this reform, warning it could favor dollar-denominated stablecoins over regulated euro tokens, and that the French crypto industry, which now depends on state licensing to operate, may no longer have the means to challenge such measures.
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