Proposed French tax on regulated stablecoins could drive crypto traders offshore
Chainalysis CEO in France Francois Volpoet warned the proposed 31.4% tax on regulated stablecoins could push traders toward unmonitored offshore channels.
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Summary
- French lawmakers are considering taxing swaps from cryptocurrencies into stablecoins regulated under the European Union’s MiCA framework at the country’s 31.4% capital gains rate beginning Jan. 1, 2027.
- Chainalysis warned that the proposal could push investors toward less transparent, unregulated stablecoins, while another measure would require taxpayers to disclose self-hosted wallets holding at least €100,000.
- The proposals, which also include extending the exit tax to large crypto holdings and allowing losses to be carried forward for 10 years, have not become law and must be resubmitted to the full National Assembly.
