Communist deputy Nicolas Sansu has filed an amendment to the 2027 budget bill aimed at taxing cryptocurrency and stablecoin exchanges, which are currently exempt from taxation. The measure, adopted by the finance committee, would make these operations a taxable event instead of waiting for conversion to euros as is currently the case. In 2025, approximately 13.3 trillion dollars transited through Tether (USDT), and dollar-pegged stablecoins represent more than 99% of the total market capitalization, compared to approximately 0.2% for their euro equivalents. The government has expressed skepticism, stating that the debate is not mature enough and that a legal definition of stablecoins is needed first. Despite executive opposition and uncertain parliamentary majority, Nicolas Sansu intends to pursue the debate in the Senate and at Bercy.
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