Crypto Tax France: Exit Tax Rejected, Budget Vote Delayed
French lawmakers have voted down two proposals that would have taxed unrealised crypto gains when someone moves their tax residence abroad, and the vote on the revenue section of the 2027 budget has slipped for a second time. For anyone dealing with crypto tax France rules, the short version is this: the exit tax on crypto is off the table for now, but the stablecoin gains measure, the wallet reporting idea and a small-payments exemption are all still alive. Nothing here is law yet.
What the National Assembly decided on crypto exit taxes
The National Assembly is working through the revenue section of the 2027 state budget, and crypto has been one of the topics MPs have fought over. On Friday, the chamber rejected two separate proposals that would have applied an exit tax to unrealised crypto gains for taxpayers who transfer their tax residence outside France. Both failed by wide margins.
The first proposal: adding crypto to the existing exit tax regime
The first amendment aimed to bring crypto assets into the country's existing exit tax regime. It was rejected with 27 votes in favour, 55 against and one abstention, according to the Assembly's official voting record. In practical terms, this would have treated crypto like the other assets already caught when a person leaves France, taxing the paper gain on departure even though nothing had been sold.
The second proposal: a threshold-based tax on large holders
The second amendment was narrower. It would have taxed unrealised gains on household crypto holdings worth more than 800,000 euros (about $897,000) when a taxpayer moved their residence outside the country. It also required that the person had been tax-resident in France for at least six of the preceding 10 years. It was rejected with 31 votes in favour and 60 against.
Taken together, the two votes show that the chamber was not persuaded, at least at this stage, that crypto should carry its own exit charge. If you were planning a move abroad and worried about being taxed on gains you had not realised, these results remove one specific risk from the current budget debate. They do not guarantee that the idea won't come back in another form later.
Why the 2027 budget vote keeps slipping
The vote on the budget's revenue section was originally planned for Oct. 20. It was postponed then because more than 2,000 amendments were still waiting to be debated. It has now been postponed a second time. According to the Assembly's end-of-session record following Monday's sitting, Tuesday's agenda covers questions to the government and a continuation of the debate on the revenue section, with 758 amendments still pending examination.
The Nov. 17 deadline and what happens if the section is rejected
The Assembly has to complete its first-reading examination, and the Nov. 17 deadline is getting close. If the revenue section is rejected, the government's original budget proposal moves on to the Senate without the amendments MPs have adopted. That detail matters for crypto filers. Any crypto measure that was approved in the Assembly could fall away in that scenario, because the version heading to the Senate would be the government's own text rather than the amended one.
So an amendment being approved by MPs is not the same as a rule taking effect. The budget still has to clear the rest of the process, and the content can change at several points. That is why a calm, records-first approach makes more sense than any rushed reaction.
What is still pending: stablecoins, wallets and small payments
The exit tax votes were only part of the crypto agenda. Several other proposals are either already voted on in the Assembly or still waiting for debate.
The stablecoin gains measure approved on Oct. 16
Lawmakers approved a proposal on Oct. 16 to tax gains into fiat-pegged stablecoins. The source is explicit that the measure has not become law. This is the one that matters most if you hold or trade USDT or USDC. In plain terms, the idea targets the moment you move into a fiat-pegged stablecoin, which is a different trigger from the one most people are used to. For a fuller walkthrough of how this proposal is framed, see our piece on how the 31.4% stablecoin tax proposal works.
The self-custody reporting proposal
Another proposal awaiting debate would require taxpayers to report self-custodied crypto holdings to the tax authorities if their combined value reaches at least 100,000 euros (about $112,000), based on their value at year-end. If adopted, it would put wallets you control yourself, not just accounts on an exchange, inside the reporting net once you pass that combined threshold. We covered the idea in more detail in the plan to disclose wallets above 100,000 euros.
The small-payments exemption
A further proposal would exempt gains on crypto payments for goods and services from tax, as long as the total value of those payments does not exceed 1,000 euros (about $1,120) during the tax year. If you ever spend crypto on everyday purchases, this one would be a welcome simplification, since it would remove small spending gains from your calculations. Like the others, it still has to be debated.
The table below summarises where each measure stands, based only on what the source reports.
| Proposal | Key detail | Status in the source |
|---|---|---|
| Crypto in existing exit tax regime | Unrealised gains taxed on leaving France | Rejected, 27 for, 55 against, 1 abstention |
| Exit tax on holdings above 800,000 euros | Six of last 10 years as French tax resident | Rejected, 31 for, 60 against |
| Tax on gains into fiat-pegged stablecoins | Applies to stablecoin conversions | Approved Oct. 16, not law |
| Self-custody reporting | Combined value of at least 100,000 euros at year-end | Awaiting debate |
| Exemption for crypto payments | Total payments up to 1,000 euros in the tax year | Awaiting debate |
What this means for your USDT tax and USDC tax position
If you hold stablecoins, the key point is that the stablecoin measure approved on Oct. 16 is still a proposal. The USDT tax and USDC tax questions that came with it are real, but they are not yet obligations. Until the budget completes its path, you should not assume new tax is due on any conversion you make, and you should not assume the idea is dead either.
Why the trigger matters for stablecoin holders
Many people treat swaps between stablecoins, or from a volatile coin into a stablecoin, as housekeeping. A measure aimed at gains into fiat-pegged stablecoins would change how that housekeeping is seen by the tax authority. If you have been moving in and out of USDT or USDC to park profits, the details of any final text will decide whether those moves become taxable steps. The source does not give the final wording, so there is no honest way to say today how a specific trade would be treated.
How is crypto taxed in France right now?
The source does not describe the current French regime in detail, so this article won't restate rates or mechanics that it doesn't cover. What the source does tell us is that the pending changes are proposals inside the 2027 budget debate. If you want a baseline on how the rules are being discussed, our overview of France's stablecoin tax, exit tax and self-custody wallet rules is a sensible place to start, and you should confirm current treatment with the French tax authority or a qualified adviser before filing.
What to do now if you hold crypto in France
You can't control how the Assembly votes, but you can make sure that whichever version survives, you are ready to apply it quickly and accurately.
Keep a clean transaction history
Export your full history from every exchange and wallet you use, including self-custodied wallets. Pay particular attention to stablecoin conversions: the date, the amount, the euro value at the time, and what you swapped from and into. If the stablecoin measure survives, those are exactly the records you will need. If you ever have to calculate crypto taxes on a short timeline, a tidy history is the difference between an afternoon and a week.
Take a year-end snapshot of your wallets
The self-custody reporting proposal would be based on value at year-end. Even though it has not been debated yet, recording the combined value of all your self-custodied holdings on Dec. 31 costs you nothing and gives you a useful number whether or not the rule is adopted. It also helps you see whether you would sit near the 100,000 euro combined threshold.
Keep payment records if you spend crypto
If you use crypto to pay for goods and services, track each payment and the running total for the year. The proposed exemption only applies if the total stays at or below 1,000 euros in the tax year, so you will want to know where you stand. A France crypto tax calculator or other crypto tax software can help you tally this, but only if the underlying data is accurate to begin with.
Plan around residence changes carefully
If you are thinking about moving abroad, the rejection of both exit tax proposals is encouraging, but it is a vote on specific amendments, not a promise about future budgets. Speak to a qualified tax professional before you act, and avoid timing a move around a rule that may still change.
How the delay affects your crypto tax report and filing
When you eventually prepare a crypto tax report, you will be working under the rules in force at that time, not the proposals being debated now. Because the budget vote is delayed and the Nov. 17 first-reading deadline is close, the picture could shift quickly in the coming days. If the revenue section is rejected, the government's original text goes to the Senate without the amendments adopted by MPs, which would change which crypto measures are even on the table.
For anyone asking how to file crypto taxes in a year when the rules are in flux, the practical answer is to file under the law as it stands when you file, and to keep the records that let you adapt. Don't pre-pay tax on a measure that has not become law, and don't ignore a measure just because it might be dropped. Watch for the final outcome of the first reading, then check what, if anything, from the crypto amendments survives.
Frequently asked questions
Has France introduced a crypto exit tax?
No. The National Assembly rejected both exit tax proposals on Friday. One would have added crypto to the existing exit tax regime and failed with 27 votes in favour and 55 against. The other would have targeted holdings above 800,000 euros and failed with 31 in favour and 60 against.
Is the stablecoin tax law in France now?
No. Lawmakers approved a proposal on Oct. 16 to tax gains into fiat-pegged stablecoins, but the measure has not become law. It still depends on the budget process.
Do I need to report my self-custody wallets?
Not under a rule in the source. A proposal would require reporting self-custodied crypto with a combined value of at least 100,000 euros at year-end, but it is still awaiting debate.
Would small crypto payments be tax-free?
Only if a pending proposal is adopted. It would exempt gains on crypto payments for goods and services when total payments stay at or below 1,000 euros in the tax year.
When will the budget vote happen?
The source does not give a new vote date. The revenue section debate continues, with 758 amendments pending, and the first-reading deadline is Nov. 17.
Source: Cointelegraph Regulation