French 8 million euro crypto asset exit tax faces new budget obstacles
2026-10-11 01:41:08
According to CoinMeta, the proposed 8 million euro exit tax on crypto assets in France has encountered new legislative obstacles, as legislators rejected the revenue portion of the 2027 budget, which may lead to a delay in measures targeting wealthy crypto holders and stablecoin transactions. On October 9th, the Finance Committee of the National Assembly voted 31 to 3 in favor of rejecting the revised revenue text, with 2 abstentions. This decision means that these two amendments will not automatically proceed to the plenary session, and legislators must re-introduce them at the start of the budget debate on October 13th. Under the amendment i-cf1822, France will extend the existing exit tax framework to individuals holding more than 800,000 euros in crypto assets, applicable to taxpayers who have been French residents for at least six of the past ten years before leaving the country. The proposed exit tax will target unrealized gains accumulated by individuals during their period as French tax residents. The amendment will also cover crypto assets held through domestic or foreign exchanges. The proposed legislation is set to take effect on January 1, 2027. The second amendment will affect investors who exchange cryptocurrencies for stablecoins without converting their holdings into traditional currency.
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Source:CryptoNewsFlash
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