French National Assembly Backs 31.4% Tax on Crypto-to-Stablecoin Swaps
Key Takeaways
- •The French National Assembly voted in favor of a 31.4% tax on exchanges between cryptocurrencies and stablecoins.
- •The taxed transactions involve stablecoins, tokens designed to track reference assets such as fiat currencies and broadly used as trading and settlement instruments in crypto markets.
- •A renewed reading of the Assembly's vote under scrutiny number 8836 confirmed the amendment had already passed the finance committee before the floor vote, a step not described in the initial report.
- •The sequence of committee review followed by chamber debate and voting reflects France's standard legislative procedure.
- •Because France operates a bicameral system, the adopted text generally still requires Senate consideration and further legislative steps before any provision becomes effective.
The French National Assembly has backed a 31.4% tax on swaps between cryptocurrencies and stablecoins, according to COINOTAG's report of October 20, 2026. Stablecoins are tokens designed to track the value of a reference asset, most commonly a fiat currency such as the US dollar, and they are widely used across crypto markets as trading and settlement instruments — the assets between which the backed rate would apply.
In an update published at 23:14 UTC, COINOTAG said a new reading of the Assembly's vote record, published under scrutiny number 8836, confirms that the amendment had already cleared the finance committee before reaching the floor — a stage the initial coverage did not detail. That sequence mirrors France's standard legislative procedure, in which amendments are examined by the relevant committee before being debated and voted on in the chamber. It also situates the vote within a longer process: under France's bicameral system, a text adopted in the National Assembly generally still faces consideration by the Senate and the remaining legislative stages before any provision takes effect.
This content was first published on COINOTAG: https://en.coinotag.com/france-national-assembly-31-4-stablecoin-tax
