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France is moving quickly on crypto regulation. Lawmakers have just adopted several tax amendments that could potentially affect 11% of the French population — essentially everyone who holds cryptocurrencies. These measures are part of the draft finance bill for 2027, with the final vote expected by the end of the year.
Why It Matters
The introduction of new crypto tax rules in France reflects a growing trend among governments to establish clearer regulatory frameworks for digital assets, which could influence investor behavior and market dynamics. As a significant portion of the population engages with cryptocurrencies, these amendments may shape public perception and acceptance of crypto assets, potentially impacting France's position in the global crypto landscape. Furthermore, the outcome of this legislative process could serve as a bellwether for other countries considering similar regulations, highlighting the importance of harmonizing tax policies in the evolving digital economy.
It’s not set in stone yet. The amendments have passed the finance committee, but they still need to face a public session and then the Senate before becoming final. Changes could still happen. But the direction is clear, and French crypto investors would do well to pay attention now rather than waking up in January 2027.
The first thing to note: an amendment proposed by Deputy Daniel Labaronne, amendment I-CF798, would allow losses to be carried forward for ten years. Currently in France, if you lose money on Bitcoin or Ethereum, you can only deduct those losses from gains made in the same year. No more. This has been a sticking point for many investors who have experienced tough years — 2022 in particular — without being able to smooth their tax liabilities over time. A ten-year carry-forward significantly changes the calculation for those playing the long game.
Stablecoins and Conversions: The Tax Loophole Closed
But it’s amendment I-CF1826 that’s causing the most stir. Until now, converting your cryptos into stablecoins — switching from Bitcoin to USDC or USDT, for example — was not considered a taxable event in France. Investors used this to secure their gains without triggering taxes. The state has apparently decided that this is over.
The amendment proposes to tax these conversions as soon as the stablecoin is regulated by MiCA. From January 1, 2027, switching to a regulated stablecoin would become a taxable event. The criticism was immediate. For many investors, this type of conversion is a risk management step, not a real exit from the crypto market. Taxing this is akin to taxing the act of safeguarding money during a correction.
It’s still unclear how the market will react if the measure passes as is. Probably a shift towards less regulated stablecoins or more complex strategies. Time will tell.
Exit Tax and Declaration: Large Crypto Holdings in the Crosshairs
Two other amendments directly target holders of significant crypto assets. Amendment I-CF1822 aims to include cryptocurrencies in the Exit Tax mechanism — the system that taxes individuals who leave France with significant assets. The threshold set: 800,000 euros in crypto assets. If you exceed this and leave after January 1, 2027, you’re on the radar.
And amendment I-CF821, led by Charles de Courson, goes even further on transparency. It requires the declaration of private wallets — personal wallets, off-platform — as soon as their value exceeds 100,000 euros. Currently, these wallets don’t need to be declared. Zero obligation. This would be a fairly radical paradigm shift for investors who relied on the discretion of self-custody.
This raises questions about privacy. How will the tax administration assess these wallets? On what date? How frequently? The source does not specify. The application details remain vague.
On the platform side, the framework is also tightening. DAC 8 regulation has been in force since January 1, 2026 — it requires platforms to report their users’ transactions to tax authorities. The first report is due before June 15, 2027. Amendment I-CF1756 proposes to multiply the non-compliance fine by five: from 10,000 euros to 50,000 euros. Five times. It’s a strong signal to exchanges and platforms that might drag their feet on compliance.
For platforms active in France, investing in reporting systems becomes essential. A 50,000-euro fine per infraction hurts even medium-sized players.
In short, the message from French lawmakers is consistent across the board: more transparency, more taxation, fewer gray areas. The ten-year loss carry-forward is the only real good news for investors in this package. Everything else tightens the noose. And it potentially affects millions of French citizens — 11% of the population is a figure that gives a sense of the scale of what these amendments could impact if the Senate approves them.
The DAC 8 non-compliance fine increases from 10,000 to 50,000 euros.
Hub: USDC: Price, News, and Analysis
Frequently Asked Questions
What does amendment I-CF1826 change concretely for stablecoin holders?
Starting January 1, 2027, converting cryptocurrencies into stablecoins regulated by MiCA would become a taxable event in France, whereas these conversions currently escape taxation.
At what threshold will private wallets need to be declared?
Amendment I-CF821 proposed by Charles de Courson requires the declaration of personal wallets whose value exceeds 100,000 euros, against no current declaration obligation.
Are the amendments already final?
No. Adopted in the finance committee, they still need to pass a public session and be reviewed by the Senate before any final adoption.
