France's National Assembly finance committee spent three days, from 7 to 9 October, working through ten amendments touching crypto-assets as part of the 2027 budget, adopting five and rejecting the rest before ultimately voting down the entire revenue section of the bill altogether.

The committee's vote on the revenue section itself was lopsided: 31 against, three in favour and two abstentions. Only Ensemble pour la République, the party aligned with the government, voted to keep the section intact. Rapporteur général Philippe Juvin estimated that the amendments adopted over the week would worsen the deficit by about 10 billion euros, pushing the committee's version of the budget beyond 5.3% of GDP against a government target of 5%.

What was adopted

Among the crypto measures that survived, amendment I-CF1826 from Nicolas Sansu, adopted on 7 October, would tax conversions from crypto-assets into stablecoins starting 1 January 2027. Under the proposed calculation, someone who bought bitcoin at 30,000 euros and exchanged it for 70,000 euros in stablecoins would realise a gain of 40,000 euros, taxed at the standard 31.4% rate, for a bill of 12,560 euros.

A second Sansu amendment, I-CF1822, adopted on 8 October, introduces an exit tax on crypto-assets for households holding more than 800,000 euros, applicable to those who had resided in France for six of the previous ten years before leaving the country.

Charles de Courson's amendment I-CF821, adopted on 9 October, would require declaration of self-hosted wallets holding 100,000 euros or more as of 31 December, with sanctions of up to 10,000 euros. De Courson cited a gap between 3.5 billion euros in capital gains realised in 2021 and only 400 million euros in declared assets. A previous version of this obligation, with a lower 5,000 euro threshold, had been stripped out during the commission mixte paritaire in April.

Christine Arrighi's amendment I-CF1756, also adopted on 9 October, raises the fine for crypto platforms that refuse to share data with tax authorities from 10,000 to 50,000 euros per request, building on obligations under the DAC8 directive, which has required platforms to collect data on crypto operations since 1 January 2026. A fifth amendment, I-CF798 from Daniel Labaronne, adopted 7 October, allows crypto losses to be carried forward for ten years; its exposé des motifs states it was developed with the Association pour le Développement des Actifs Numériques.

What was rejected

Eva Sas's amendment I-CF43, which would have folded crypto-assets into a wealth tax, was rejected on 7 October. Around fifteen amendments targeting the flat tax on capital gains also failed, with thirteen rejected and two left unsupported. Paul Midy's amendment I-CF1564, which would have exempted crypto payments up to 1,000 euros a year from tax, was rejected on 9 October, as was his I-CF1553, a near-identical twin to the adopted loss-carryforward measure, rejected two days after its counterpart passed. Another Midy amendment, I-CF1520, was declared inadmissible under Article 40 of the Constitution before debate, and Mickaël Bouloux withdrew his amendment on governance tokens for developers on 8 October. The current regime leaves a 305 euro annual exemption threshold on cessions untouched.

What happens next

The committee's rejection of the revenue section does not end the process. Debate moves to the full chamber from 13 to 19 October, with a solemn vote scheduled for 20 October. Last year's revenue section was rejected by the full Assembly 404 votes to one, on the night of 21-22 November 2025, and the 2026 budget was ultimately finalised via Article 49.3 on 2 February 2026, without a wealth tax on unproductive assets that had been voted three months earlier. La France insoumise has already said it would censure any new use of 49.3 this year.

A vote on the full budget is set for 17 November, followed by Senate examination and a commission mixte paritaire of seven deputies and seven senators in December. The constitutional deadline for the process runs 70 days, ending 10 December, after which the government can apply the budget by ordinance. Several of the amendments rejected in committee, including the payment exemption and the governance token regime, reappear in a separate proposition de loi filed by Paul Midy on 23 July and signed by 91 deputies.