France's National Assembly has pushed back its vote on the 2027 budget's revenue section for a second time. Lawmakers have rejected two crypto exit-tax ideas, but a tax on stablecoin swaps remains in the provisional text, so the outcome for crypto holders is still unsettled.
Assembly keeps debating instead of voting
France's National Assembly will spend Tuesday continuing its debate on the revenue section of the 2027 state budget rather than holding the planned vote, according to Cointelegraph. The outlet cited the Assembly's end-of-session notice after Monday's sitting. That notice also lists questions to the government on Tuesday's agenda.
The delay is the second. Citing Le Monde, Cointelegraph reported that the first postponement came on the original Oct. 20 date, when a backlog of more than two thousand amendments had yet to be debated. By the latest notice, 758 amendments remained to be examined.
The Defiant framed the same development around its consequences for crypto. The Defiant said the repeated delay leaves a stablecoin tax pending, even as lawmakers defeated a separate proposal on unrealized gains.
Two exit-tax proposals defeated on Friday
On Friday the Assembly rejected two amendments that would have taxed unrealized crypto gains when a taxpayer moves their tax residence abroad, Cointelegraph reported. An unrealized gain is a rise in value on assets that have not been sold. An exit tax of this kind charges that paper gain at the moment someone leaves the country.
The first amendment would have folded crypto assets into the country's existing exit tax regime. Cointelegraph, pointing to the Assembly's official record, gave the tally as 27 for, 55 against and one abstention.
The second was narrower. It would have covered household crypto holdings above 800,000 euros ($897,000), and only taxpayers who had lived as French tax residents during six or more of the previous 10 years. The vote on it ended with 31 lawmakers in favor and 60 opposed.
Stablecoin-swap tax survives in the draft
The defeat of the exit taxes does not close the file. The Defiant noted that a tax on stablecoin swaps remains in the provisional budget text. Cointelegraph added the date and the status: the Assembly backed a tax on gains from converting crypto into fiat-pegged stablecoins on Oct. 16, and the measure has not become law.
That distinction matters for anyone reading the headlines. An amendment adopted in the Assembly is only one step in a longer process. The text can still change, be rejected along with the rest of the revenue section, or be altered later in the legislative path.
Neither outlet describes how the stablecoin measure would be applied in practice, so questions about reporting mechanics, thresholds or exemptions remain open.
Numbers that frame the debate
The reporting contains a handful of figures that define the state of play.
- 758 amendments still awaited examination as of the latest Assembly notice.
- The Assembly has until midnight on Nov. 17 to finish its first-reading examination.
- The first exit-tax proposal was rejected 27 to 55 with one abstention.
- The second was rejected 31 to 60, with a threshold of 800,000 euros ($897,000) in household crypto holdings.
- A pending reporting proposal would cover self-custodied crypto worth a combined 100,000 euros ($112,000) or more, valued at year-end.
- A pending payments proposal would exempt gains on crypto spent on goods and services if the total stays within 1,000 euros ($1,120) in a tax year.
How the two accounts compare
The two outlets agree on the core facts. Both say exit-tax proposals on unrealized crypto gains were defeated, and both say the stablecoin-swap tax is still in play. Their emphasis differs, however.
Cointelegraph supplies the procedural detail: the Oct. 20 postponement, the Nov. 17 deadline, the vote counts and the other crypto amendments waiting in line. The Defiant, whose coverage here consists of a headline and summary, stresses the pending stablecoin tax and the fact that it sits in the provisional text.
No discrepancy appears between them. The Defiant's summary does not mention the Oct. 16 approval date or the vote tallies, so those details rest on Cointelegraph alone.
Pending proposals could still change the picture
Cointelegraph reported that other crypto-related amendments still await debate. One would require holders to report self-custodied crypto of at least 100,000 euros ($112,000) in combined value to tax authorities, using year-end valuations. Self-custody means holding assets in a wallet the owner controls instead of on an exchange.
Another would exempt gains on crypto used for payments if those payments total no more than 1,000 euros ($1,120) in the tax year. Both are proposals only, and the reporting does not say whether either has support.
For holders, the practical step is to follow the final text rather than individual amendments. For project teams with French users, the open points are whether the stablecoin measure survives and how any reporting duty would be defined.
What to watch before Nov. 17
The first question is timing. With 758 amendments left and a hard deadline at midnight on Nov. 17, the Assembly must either reach a vote or run out of time.
The second is the fallback. According to Cointelegraph, a rejection of the revenue section would send the government's original proposal to the Senate, without the amendments that MPs adopted. In that case, the Oct. 16 stablecoin measure would not travel with it, though neither outlet says how likely that outcome is.
The third is whether the self-custody reporting and payment exemption proposals reach a vote at all. Their fate will show how far lawmakers are willing to go on crypto after rejecting the exit taxes.
FAQ
Why was France's 2027 budget vote delayed?
The National Assembly had not finished debating the revenue section, with 758 amendments still pending, according to Cointelegraph. It is the second postponement, after an Oct. 20 vote was also pushed back.
Did France adopt a crypto exit tax?
No. The Assembly rejected two proposals on Friday that would have taxed unrealized crypto gains when taxpayers move their tax residence abroad. One failed 27 to 55 with one abstention, and the other failed 31 to 60.
Is the French stablecoin tax law yet?
No. On Oct. 16 the Assembly backed a tax on gains from conversions into fiat-pegged stablecoins, and it remains in the provisional budget text. Cointelegraph stressed that the measure has not become law.
Sources
- The Defiant: France Delays Budget Vote Again, Leaving Stablecoin Tax Pending (2026-11-03)
- Cointelegraph: France postpones 2027 budget vote, crypto exit-tax proposals scrapped (2026-11-03)
Written by the Coinvote news desk from reporting by The Defiant and Cointelegraph. Not financial advice.
