Stablecoin swaps: France plans the tax Germany has had for years

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Swapping bitcoin into a stablecoin in France carries no tax so far. That is set to change from 2027, with the finance committee of the National Assembly having given its approval. In Germany such a swap has long been a taxable event, with one consequence many investors miss: the holding period starts again.France wants to close a tax gap that Germany never had. On Wednesday, October 7, 2026, the finance committee of the National Assembly adopted an amendment to the 2027 budget bill under which swapping crypto assets into stablecoins will be taxed in future. It is due to apply from January 1, 2027. The amendment was tabled by Nicolas Sansu, a deputy for the left-wing GDR group. The same day, the committee adopted a second amendment that favours investors: losses on crypto assets should in future be carried forward for ten years. None of this is settled. The changes have to win a majority again in the plenary of the National Assembly, after which the Senate takes them up. The view...