France scraps crypto tax amendments after lawmakers reject 2027 budget section

France’s National Assembly has rejected the revenue section of its proposed 2027 budget, removing several cryptocurrency tax and reporting amendments from the version of the legislation heading to the Senate. Summary France’s National Assembly rejected the revenue section of its proposed 2027 budget by 458 votes to none, removing several previously approved crypto tax amendments from the text heading to the Senate. Among the affected proposals were a tax on crypto to stablecoin conversions and a requirement for taxpayers to disclose self-custodied crypto holdings worth at least €100,000. Morpho’s global head of public affairs, Faustine Fleuret, raised concerns about the proposed tax changes and their potential impact on France’s attractiveness to crypto businesses. The Senate is scheduled to begin debating the finance bill on November 20, with the revenue section set for examination from November 23, when lawmakers could revisit the proposals. The November 4 vote saw 458 lawmakers oppose the revenue section, with none voting in favour and two abstaining, according to the Assembly’s official voting record. The rejection means the government’s original budget proposal will now procee...