France Rejects Two Crypto Exit-Tax Plans as Budget Vote Slips Again

The Assembly postponed Tuesday’s planned vote on the 2027 budget’s revenue section for a second time.

One proposal would have added crypto assets to France’s existing exit-tax rules. It received 27 votes in favor, 55 against and one abstention.

A separate plan targeted household crypto holdings worth more than $897,000 when taxpayers moved their tax residence abroad, provided they had been French tax residents for at least six of the prior 10 years. It was rejected, 31 votes in favor to 60 against.

Tuesday’s agenda called for further debate on the revenue section, with 758 amendments pending. The second delay to the budget vote leaves the Assembly until Nov. 17 to finish its first-reading review. If members reject the revenue section, the government’s original budget proposal moves to the Senate without amendments adopted by the Assembly.

Other crypto tax proposals remain under debate. They include a year-end reporting requirement for self-custodied holdings worth at least $112,000 combined and an exemption for gains on crypto payments if those payments total no more than $1,120 during the tax year.

The Assembly approved a stablecoin-conversion tax amendment on Oct. 16. The measure would tax gains when crypto assets are converted into fiat-pegged stablecoins, but it has not become law.