Proposed French tax on regulated stablecoins could drive crypto traders offshore
Source: CoinDesk ·
From the source
Chainalysis CEO in France Francois Volpoet warned the proposed 31.4% tax on regulated stablecoins could push traders toward unmonitored offshore channels. France’s legislators introduced a new proposal to expand its 31.4% crypto capital gains tax to include trades involving European Union (EU)-regulated stablecoins, a move Chanalysis warns could drive investors toward stablecoins outside the bloc’s rules. The proposal is part of France's 2027 budget , which lawmakers began debating last week in the National Assembly and have until Dec. 10 to pass. An amendment adopted by the National Assembly’s finance committee on Oct. 7 would make it a taxable event when investors exchange cryptocurrencies such as bitcoin for stablecoins classified as electronic money tokens under the EU’s MiCA regulation, which came into full force on July 1 . Swapping one crypto for another generally does not trigger capital gains tax in France. The proposed changes would tax swaps into certain EU-regulated…