France Postpones 2027 Budget Vote as Lawmakers Reject Crypto Exit-Tax Proposals
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Written by
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Zoltan Vardai, staff writer
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Edited by
- Yohan Yun, staff editor
France Postpones Budget Vote and Scrapps Crypto Exit-Tax Proposals:
The National Assembly of France has postponed the budget vote for 2027, for the second time, as lawmakers rejected proposals to implement an exit tax on unrealized cryptocurrency gains.
The assembly will now debate the revenue section of the budget on Tuesday, November 8th, with 758 amendments still pending. The original vote scheduled for October 20th was postponed due to over 2,000 amendments.
Rejection of Crypto Exit Tax Proposals:
- The first proposal received 27 votes in favor, 55 against, and one abstention. It aimed to include crypto assets in France's existing exit tax regime.
- A second proposal was rejected with 31 votes in favor and 60 against. This proposal would have taxed unrealized gains on household crypto holdings exceeding €800,000 when taxpayers moved their tax residence abroad, provided they had been French tax residents for at least six of the preceding ten years.
Other Crypto-Related Proposals:
Other proposals still under consideration include:
- Reporting self-custodied crypto holdings valued at a combined €100,000 or more to tax authorities.
- Exempting gains from crypto payments for goods and services below €1,000 during the tax year.
A proposal to tax gains when crypto assets are converted into fiat-pegged stablecoins was approved on October 16th, but it has not yet become law.