Taxation of crypto/stablecoin, exit tax, wallets: amendments to the 2027 Finance Bill

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7 Oct 2026Marc-Antoine Caen Poletti

A 2027 Finance Bill Generally Unfavorable to Cryptos

The Finance Committee of the National Assembly begins this week the examination of amendments to the draft finance law for 2027. The deadline for submissions has passed, and the crypto section is already making headlines. The solemn vote on the revenue part is scheduled for October 20, following the opening of the plenary session on October 13.

The assessment made by Faustine Fleuret, director of public affairs at Morpho, is unequivocal. There are "more bad ideas than good" in the submitted amendments. An imbalance that, according to her, reflects a broader trend in French regulation, which is more inclined to tighten than to loosen the framework applicable to crypto-assets.

The Controversial Amendment: Taxing Crypto to Stablecoin Conversions

Among the most controversial proposals is Amendment I-CF 1826 by MP Nicolas Sansu (GDR). It aims to tax capital gains realized during the conversion of crypto-assets into stablecoins, starting January 1, 2027. This represents a major break from the current regime, which only triggers taxation at the moment of conversion to fiat currency.

The problem, raised internally, lies in the complete absence of a counterpart. Players like Deblock, Waltio, or Lizy had mentioned a crypto/stablecoin taxation in the context of an exchange with the ecosystem, requesting relaxations in return. However, the submitted amendment is purely repressive. "If it had been the will of the tax administration, this measure would have been in the government's text," summarizes Faustine Fleuret. "If it’s an amendment, it’s probably the result of lobbying."

Exit Tax, Self-hosted Wallets, and Crypto IFI

Two other amendments significantly tighten the tax pressure. Still led by Nicolas Sansu, Amendment I-CF 1822 extends the exit tax mechanism to latent capital gains on crypto-assets exceeding 800,000 euros in the event of transferring tax residence outside France.

Charles de Courson (LIOT), for his part, submits Amendment I-CF 821. It establishes a declaration obligation for self-hosted crypto wallets exceeding 100,000 euros, with penalties that can reach 10,000 euros. This measure is considered worrying in a context marked by recent data leaks affecting crypto investors. For reference, France experienced over a hundred crypto kidnappings in 2026.

Finally, Amendment I-CF43 by Eva Sas (ECO) proposes to replace the IFI with a personal wealth tax that includes crypto-assets in its base.

Some Pro-Crypto Proposals by Paul Midy

On the favorable side for the ecosystem, MP Paul Midy (EPR) is multiplying initiatives. His Amendment I-CF 1564 aims to exempt the sale of crypto-assets used to purchase goods or services, up to 1,000 euros per year. A measure likely to promote the actual use of cryptos in the economy.

Amendments I-CF 1553 (Midy) and I-CF798 (Daniel Labaronne, EPR) also propose to allow the carryover of losses over ten years, to align the crypto regime with that of securities. A long-awaited alignment. Finally, Amendments I-CF 1520 (Midy) and I-CF1139 (Mickaël Bouloux, SOC) attempt to clarify the tax treatment of governance tokens awarded to protocol contributors, either by making them non-taxable upon acquisition or by establishing a deferral of taxation.

The debate begins in the Finance Committee this week. The outcome will largely depend on the ability of parliamentary groups favorable to the ecosystem to counterbalance the repressive amendments. A supplementary article will be published as votes progress.