The French National Assembly Finance Committee has approved an amendment to the proposed 2027 budget that would tax swaps between Bitcoin and stablecoins. This change would classify such crypto-to-crypto exchanges as taxable events, regardless of whether the assets are converted into fiat currency.
Under the current French system, taxation on cryptocurrency exchanges is typically deferred until the assets are converted into fiat. The proposed amendment aims to regulate the domestic crypto market more strictly. The measure still requires further parliamentary approval to become law.
Market participants have reacted to the news with caution, citing increased regulatory uncertainty. Prediction markets have adjusted their outlook, showing a decrease in the likelihood of Bitcoin reaching $200,000 by the end of 2026 as investors assess the potential impact of the tax policy.
