French National Assembly Finance Committee Rejects 2027 Budget Revenue Section, Invalidation of Previously Passed Crypto Tax Amendments

Odaily News: The French National Assembly Finance Committee voted 31 to 3 last Friday to reject the revenue section of the government's 2027 budget bill, rendering previously passed amendments such as the crypto asset exit tax and stablecoin conversion taxation invalid. The related proposals must be resubmitted starting Tuesday.

According to the agenda, the National Assembly will vote again on the budget revenue section on October 20 and hold a vote on the entire bill on November 17.

Previously, the committee had passed several crypto tax amendments, including proposing to include crypto asset conversions to stablecoins within the taxable scope starting January 1, 2027, expanding the scope of the exit tax, and requiring taxpayers to declare self-custodial wallets valued at over 100,000 euros at year-end, with non-declarers facing fines of up to 10,000 euros. (Euronews)