The French National Assembly has approved a legislative amendment that introduces a 31.4% capital gains tax on transactions involving the conversion of cryptocurrencies into stablecoins. This measure specifically targets conversions into stablecoins that are regulated under the Markets in Crypto-Assets (MiCA) framework.
By classifying these conversions as taxable events, the government aims to align them with the existing taxation rules for private crypto gains. The amendment passed following a narrow vote in the National Assembly, though it has not yet been enacted into law.
This initiative signals a shift in the regulatory approach of France toward stablecoins and crypto transactions that do not involve fiat currency. Market participants are now observing the final stages of the legislative process to see if the proposal will be fully adopted.
