French Lower House Approves 31.4% Capital Gains Tax on Crypto-to-Stablecoin Swaps - bloomingbit

France's lower house of parliament has approved a 31.4% capital gains tax on crypto-to-stablecoin swaps, according to bloomingbit. The measure marks a notable shift in how French tax rules treat conversions between cryptocurrencies and stablecoins—transactions that were previously not always viewed as taxable disposals. Under the approved framework, such swaps would be treated as realization events subject to the unified rate.

The development matters because stablecoins are often used as a parking spot for crypto holdings without exiting the market entirely. If swapping into a stablecoin becomes a taxable event, users may need to reconsider how they manage positions and record transactions. It also highlights a broader trend among regulators to close perceived loopholes and standardize treatment across digital assets.

What to watch: the measure still needs to complete the legislative process, so final scope and implementation details may change. Market participants should monitor the upper house's review, any effective-date provisions, and guidance on how gains are calculated for stablecoin conversions. For now, the approval signals France's direction toward stricter, more uniform crypto taxation.