31.4% Capital Gains Tax Proposed to Cover Stablecoin Conversions as French Parliament Passes Related Amendment

Odaily Report: On October 16, the French National Assembly passed Amendment I-3898 to the 2027 budget bill, which proposes that starting January 1, 2027, transactions converting crypto assets into e-money tokens under the MiCA framework be included in the scope of capital gains taxation, with related gains subject to a flat tax rate of 31.4%, and a tax liability triggered even without conversion into euros. The measure covers stablecoins such as USDC and EURC; Chainalysis analysis shows that USDT is not covered by this measure. The amendment still requires subsequent budget votes and Senate review and has not yet formally become law.