France plans to impose a 31.4% capital gains tax on bitcoin-to-stablecoin conversions and require declaration of self-custody wallets holding over 100,000 euros.

PANews October 16 news, according to Bitcoin News, French lawmakers proposed several digital asset tax amendments during the 2027 budget discussions. First, to extend the current 31.4% capital gains tax to transactions converting Bitcoin into stablecoins, limited to stablecoins that meet the MiCA electronic money token definition, such as USDC. Second, to impose an exit tax on those holding more than 800,000 euros in digital assets and relocating their tax residence outside France. Third, to require reporting of self-custodied holdings worth at least 100,000 euros, with a maximum fine of 10,000 euros for violations. Fourth, to allow losses to be carried forward for 10 years. The National Assembly Finance Committee rejected the revenue portion of the budget on October 9 by a vote of 31 to 3, and the relevant amendments need to be resubmitted. The revenue portion was originally scheduled for a vote on October 20, and none of them have currently become law.