France advances 31% tax on crypto-to-stablecoin transactions

France’s parliament has moved forward with legislation to impose a 31.4% capital gains tax on transactions converting cryptocurrencies into stablecoins. This measure, which concerns conversions into certain MiCA-regulated stablecoins, seeks to classify these transactions as taxable events, aligning them with existing private crypto gains taxation. While the amendment has passed a narrow vote in the National Assembly, it has yet to become law. This development suggests a shift in France’s approach to stablecoins, indicating increased regulatory scrutiny on crypto transactions that do not involve fiat currency.

Also reported by Coincu, Coinspress.

Source: Crypto Briefing