France Postpones 2027 Budget Vote, Two Crypto Exit Tax Proposals Rejected

Odaily reports that the French National Assembly has postponed the vote on the revenue portion of the 2027 national budget to Tuesday, continuing deliberations on related content, with 758 amendments still pending review. This is the second delay of the vote, and the Assembly must complete its first reading before midnight on November 17.

The French National Assembly on Friday rejected two crypto exit tax proposals that would have taxed unrealized gains on crypto assets when taxpayers relocate their tax residence outside France. Another proposal targeted household crypto assets worth more than 800,000 euros, requiring taxpayers to have been French tax residents for at least 6 of the previous 10 years.

Proposals still pending before the Assembly include: requiring the declaration of self-custodied crypto assets with a total year-end value of at least 100,000 euros; and exempting gains from tax if the total amount of cryptocurrency used to pay for goods and services during the tax year does not exceed 1,000 euros. A proposal passed by the Assembly on October 16 would tax gains from converting crypto assets into fiat-pegged stablecoins, but it has not yet become law. (Cointelegraph)