French National Assembly Rejects 2027 Budget Revenue, Shelving Crypto Tax Amendments

Cointime update: France’s National Assembly rejected the revenue section of the 2027 budget in a first reading on November 5 by 458 votes to 0, with 2 abstentions. Crypto-related amendments previously passed were therefore left out of the government’s original budget text sent to the Senate. The affected proposals include taxing gains from converting crypto assets into stablecoins and requiring taxpayers to declare self-custodied crypto assets worth at least €100,000. The measures could still be reintroduced in the Senate and must clear further legislative steps to become law.