Converting Bitcoin into a stablecoin could trigger a tax bill before any euros reach a bank account under France’s stablecoin tax proposal. The National Assembly approved an amendment to the 2027 budget by a single vote that would end tax deferral on gains from those conversions. It is not yet law.

National Assembly backs amendment by 38 votes to 37

The amendment passed with 38 votes in favor, 37 against and 25 abstentions. Nicolas Sansu introduced the measure, identified as Amendment No. 3898, to change how conversions into fiat-linked stablecoins are treated for tax purposes.

Sansu argued that moving from a volatile cryptocurrency into a stablecoin linked to an ordinary currency should receive the same tax treatment as cashing out…