French National Assembly Rejects 2027 Budget Revenue Section, Crypto Tax Amendments Not Included in Senate Text

The French National Assembly rejected the revenue section of the 2027 budget with 458 votes against, 0 in favor, and 2 abstentions. The approved amendments related to cryptocurrency were not included in the budget text submitted to the Senate. Related proposals may still be reintroduced in the Senate and must pass subsequent budget reviews to become law. The previously approved amendments include taxing gains from cryptocurrency exchanges to stablecoins and requiring taxpayers to declare self-custodied crypto assets valued at least €100,000, with the assessment date set as December 31 of the tax year. Another amendment proposes increasing fines for crypto platforms that fail to provide information as required by tax authorities from €10,000 to €50,000. The Senate is scheduled to begin reviewing the finance bill on November 20 and will examine the budget revenue section provisions on November 23.

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