France Committee Backs Tax on Stablecoin Swaps From 2027

France’s National Assembly Finance Committee approved proposals to tax crypto conversions into fiat-pegged stablecoins from Jan. 1, 2027, as part of the country’s proposed 2027 budget bill.

The amendment, submitted by lawmaker Nicolas Sansu, would make gains taxable when investors exchange cryptoassets for stablecoins linked to currencies such as the euro or U.S. dollar. Gains would be calculated using the acquisition cost of the assets sold. A weighted average would apply when investors bought the same token at different prices.

The proposal could create a tax obligation before investors convert their holdings into euros or another traditional currency. It still requires approval from the full National Assembly, which is scheduled to begin examining the 2027 Finance Bill on Oct. 13.

The committee also approved an amendment from lawmaker Daniel Labaronne allowing investors to carry realized crypto losses forward for up to 10 years.

A separate amendment would extend France’s exit tax to unrealized crypto gains when taxpayers with household crypto holdings worth more than 800,000 euros ($895,000) transfer their tax residence abroad.

Greece’s Ministry of National Economy and Finance published a draft bill proposing a 10% tax on individual crypto capital gains. Annual gains of up to 500 euros ($560) would be exempt. The proposal would not tax crypto-to-crypto exchanges.

France and other European Union member states must implement the bloc’s eighth Directive on Administrative Cooperation, known as DAC8. The rules require crypto service providers to collect customer identities and transaction data and report the information to national tax authorities.

National tax authorities are expected to exchange the data with their counterparts in other EU member states. The crypto reporting requirements began applying on Jan. 1, 2026, and the first exchanges of information covering 2026 transactions are due by September 2027.