French legislators passed a new crypto tax amendment on Friday by a narrow margin, which may make transactions involving the exchange of cryptocurrencies for stablecoins taxable starting from 2027.

The French National Assembly passed an amendment on Friday with a vote of 38 in favor, 37 against, and 25 abstentions. The measure was initially proposed by French lawmaker Nicolas Sansou (N token issuance las Sansu) in the form of a committee amendment I-CF1826 and was approved on October 7th.

If ultimately implemented, this stablecoin amendment will impose taxes on transactions involving the exchange of certain cryptocurrencies for stablecoins and will change the way France calculates tax on capital gains from cryptocurrencies.

According to this proposal, when investors convert Bitcoin (BTC) or other cryptocurrencies into stablecoins, taxation on the profits will be triggered even if the profits are not exchanged for fiat currency. The calculation of the tax amount will use the purchase cost of the sold crypto assets as well as the weighted average purchase price.

French legislators will also discuss a tax on the exit from cryptocurrency and measures for self-hosted wallet declarations

In addition, on Friday, the parliament rejected a proposal to carry forward realized encryption losses for 10 years, with the voting results being 18 votes in favor, 75 votes against, and 3 abstentions.

Members are still deliberating on Amendment I-2701, which will require individuals to declare their holdings in self-hosted wallets if the total value of these wallets exceeds 100,000 euros (112,000 US dollars) during the relevant tax year.

As of Monday, these two proposals are still under consideration within the 2027 fiscal bill.