France's parliament approves vote to hit stablecoin trades with 31% capital gains tax
Amendment I-3898 removes tax deferral for MiCA-compliant stablecoins starting January 2027.
AI Summary
France's parliament has approved a 31.4% capital gains tax on trades converting cryptocurrency to stablecoins, effective from January 2027. Amendment I-3898 eliminates the current tax deferral for transactions involving MiCA-compliant stablecoins. This decision, passed by a narrow margin of 38 to 37 votes, may lead traders to seek alternatives such as decentralized finance platforms and offshore exchanges.