According to Woofun AI, the French National Assembly voted against two amendments to include virtual currency in the scope of exit tax collection on October 30. However, the overall vote on the revenue section of the 2027 budget has been postponed twice before, most recently on the afternoon of November 3 (Tuesday); as of press release, 758 amendments are still pending, and Parliament must complete the first reading by midnight on November 17.
This result indicates that the legislature has chosen a more prudent stance on tax equality between crypto assets and traditional securities.
In terms of specific voting details, Amendment I-3904 was defeated by 27 votes in favor, 55 votes against, and 1 abstention. The proposal sought to amend current rules to require taxpayers to include the value of virtual currency held by taxpayers to the 800,000 euro exit tax threshold when they migrate overseas. The opposition's core argument is that the high volatility of virtual currencies makes it very likely that using a static valuation mechanism based on stocks or securities will cause unfair tax burdens. The alternative amendment I-3432 was also not spared, and was rejected by 31 votes in favor and 60 against. The plan proposes to levy an unrealized income tax on household crypto holdings worth more than 800,000 euros, and requires taxpayers to be French tax residents for at least 6 of the previous 10 years; its failure meant that efforts at the committee stage to expand the scope of taxation were reversed at the parliamentary level.
Notably, data compiled by Woofun AI shows that despite the setback of the exit tax proposal, tax adjustments for stablecoins are still progressing. Previously, on October 16, Amendment 3898 passed by a narrow margin of 38 votes in favor, 37 against, and 25 abstentions. The amendment plans to treat the exchange of crypto assets into electronic currency tokens as defined by the European Union's Crypto Asset Market Regulation (MiCA) as a taxable disposition, thereby canceling the original deferred treatment, and the proceeds are calculated at the French single tax rate — the tax rate will be raised from 30% to 31.4% from January 1, 2026. Unlike volatile assets such as BTC, ETH, and XRP, stablecoins aim to maintain a fixed value through assets such as the US dollar. If this legislative change finally takes effect, it will apply to subsequent transactions from January 1, 2027.
In addition to these core disputes, the budget also includes two proposals aimed at optimizing the small-holder experience. The first is the tax exemption for virtual currency payments of up to 1,000 euros per year to resolve the pain point that everyday micropayments such as using Bitcoin to buy coffee are also treated as “asset disposal” and are subject to tax under the current system. Second, virtual currencies held outside of service providers such as exchanges must be declared if the value reaches 100,000 euros or more on December 31. The two proposals are currently awaiting formal consideration.
Although the Stablecoin Deferred Offer Cancellation Act and the new reporting system have not yet officially entered into force and are still subject to overall review and Senate vote, legislative trends have shown an intention to strengthen tax transparency on crypto assets. It is important to note that if the revenue portion is rejected in the overall vote, the National Assembly will no longer review the expenditure portion, the passed amendments will then be annulled, and the original government text will be sent directly to the Senate — when the 2026 budget was reviewed last year, the revenue portion was rejected. This is a key test for France in balancing tax fairness and industry adaptability following the tightening of crypto regulations in many European countries. The future pace of policy implementation will depend on the Senate's final attitude.