The National Assembly of France has rejected the revenue section of the 2027 budget, which temporarily sets aside the crypto tax and wallet-reporting amendments adopted during earlier debates.
According to official voting records, 458 lawmakers voted against the section, none supported it, and two abstained.
The government’s original budget will now go to the Senate, excluding changes made by Assembly lawmakers, parliamentary broadcaster LCP reported.
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What the crypto amendments proposed
Adopted on October 16, amendment I-3898 would tax gains on swaps into stablecoins classified as electronic money tokens under EU rules, even without cashing out into euros.
Under France’s rules for individual investors, crypto-to-crypto swaps generally do not trigger immediate tax.
The stablecoin proposal would narrow that treatment for covered tokens, with an intended start date of January 1, 2027.
Under amendment I-2701, approved on November 3, taxpayers are required to declare self-custodied crypto holdings totaling at least €100,000, assessed on December 31 of the relevant year.
The proposal covers wallets held without a crypto service provider.
Proposals could return in the Senate
The rejection drops the proposed changes from the bill, but senators can still suggest similar rules later.
According to the Senate’s calendar, the budget debate will begin on November 20, subject to the bill’s transmission.
Any new crypto rules would still need to survive the rest of the lawmaking process to take effect.
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