French lawmakers back 31% tax treatment for stablecoin trades from 2027

France’s parliament has approved an amendment that would change how certain stablecoin transactions are treated for tax purposes, setting the stage for a 31% capital gains tax on affected trades from January 2027.

Amendment I-3898 removes tax deferral for stablecoins that comply with MiCA, the European Union’s crypto-asset regulatory framework. The change is scheduled to take effect in January 2027, giving the measure a defined future start date rather than applying immediately.

What the amendment changes

The measure targets the tax treatment of MiCA-compliant stablecoins. Under the amendment, tax deferral would no longer be available for these assets. Stablecoin trades would instead face a 31% capital gains tax treatment, according to the proposal approved by lawmakers.

Stablecoins are designed to maintain a relatively stable value and are commonly used within digital-asset markets for trading and transferring funds. Their treatment under national tax rules can affect how investors and market participants account for transactions, even when the assets are used primarily as a settlement tool rather than for directional exposure.

Why the timing matters

The January 2027 start date places the change within the longer-term implementation of France’s crypto tax policy. It also ties the measure specifically to stablecoins that meet MiCA requirements, rather than applying the stated rule to every digital asset or every type of crypto transaction.

The amendment’s approval marks a policy decision, but the summary does not provide further details on how the tax would be calculated, which transactions would qualify, or whether additional legislative steps are required before the rule takes effect. Those details will matter to users and businesses assessing the practical impact of the new treatment.

Source: Coindesk