Key facts
- France's Finance Committee approved taxing stablecoin swaps from Jan. 1, 2027.
- Unrealized crypto gains will be taxed for individuals with over 800,000 euros in holdings moving abroad.
- Crypto conversions into fiat-pegged stablecoins will be taxable events.
- Investors can carry forward realized crypto losses for 10 years.
- Greece is proposing a 10% tax on crypto capital gains with a 500 euro annual exemption.
France's National Assembly Finance Committee has advanced proposals to tax cryptocurrency transactions, including swaps into stablecoins and unrealized gains for expatriating individuals. The measures, if enacted as part of the 2027 Finance Bill, would introduce new tax liabilities for crypto investors.
One amendment, submitted by MP Nicolas Sansu, would make conversions of crypto assets into fiat-pegged stablecoins taxable events starting January 1, 2027. The explanatory text accompanying the amendment describes the current tax treatment as a legislative loophole. Taxable gains would be calculated based on the acquisition cost of the disposed assets, using a weighted average for tokens purchased at different prices.
Another adopted amendment, proposed by MP Daniel Labaronne, would allow investors to carry forward realized crypto losses for a period of 10 years. Furthermore, an amendment approved on Thursday would impose an exit tax on unrealized gains for taxpayers whose household crypto holdings exceed 800,000 euros and who are transferring their tax residence abroad.
The full Assembly is slated to begin its review of the 2027 Finance Bill on October 13. These proposals come as other European nations also consider different approaches to crypto taxation. For instance, Greece has published a draft bill proposing a 10% tax on individuals' crypto capital gains, with an exemption for annual gains up to 500 euros, but it would leave crypto-to-crypto exchanges untaxed.
France and other EU member states are obligated to implement the bloc's tax reporting rules under the eighth amendment to the Directive on Administrative Cooperation (DAC8). These rules, effective from January 1, 2026, require crypto service providers to collect and report user identity and transaction data to national tax authorities, which then share this information across the EU. The initial exchange of data for 2026 transactions is expected by September 2027.