France Crypto Tax: Budget Rejection Shelves €100K Wallet Rule

By Nodora News · 6 November 2026

France’s National Assembly rejected the 2027 budget revenue section 458–0, shelving crypto stablecoin tax and €100K self-custody wallet reporting for now.

France’s National Assembly has shelved a package of crypto tax amendments after lawmakers rejected the revenue section of the 2027 budget, wiping the measures from the text heading to the Senate — at least for now. Bitcoin (BTC) and the wider market barely blinked on the procedural reset, but the vote reverses Assembly-backed rules that would have taxed some stablecoin conversions and forced large self-custody holders to report wallets of €100,000 or more.

Key takeaways

• On 4 November 2026, the Assembly rejected the first part of the 2027 finance bill (revenue) by 458 votes to 0, with 2 abstentions (scrutin n°9759).
• Because the revenue section failed, the whole bill is treated as rejected in first reading, and crypto amendments adopted earlier fall away from the Assembly text.
• Measures that drop include a tax on certain crypto-to-stablecoin conversions, a €100,000 self-custody wallet reporting rule, and higher fines for platforms that fail to answer tax requests.
• The government’s original budget text now goes to the Senate, which is due to open the finance bill debate around 20 November, with revenue articles from about 23 November.
• The amendments can still be reintroduced in the Senate or later stages; DAC8 exchange reporting for platforms continues on its EU timetable.

What the Assembly voted

Late on Wednesday 4 November, deputies voted on the first part of the projet de loi de finances (PLF) for 2027 — the section that covers state revenue and taxes. Official Assembly figures show 460 voters, 458 expressed votes, an absolute majority of 230, 0 in favour, 458 against, and 2 abstentions.

Under the Assembly’s rules, failing to adopt the revenue part means the bill is considered rejected in first reading. The chamber does not move on to the expenditure part in that form. The government’s original text, without the deputies’ amendments, is what proceeds in the bicameral process.

The Assembly’s own news note confirms the rejection of the first part of the 2027 finance bill and points to the public vote analysis for scrutin n°9759.

Which crypto measures fall away

Before the revenue section fell, deputies had already adopted several crypto-related changes during the bill’s first reading:

• Stablecoin conversion tax (adopted 16 October): Gains on certain conversions from crypto into stablecoins treated as electronic money tokens under the EU’s Markets in Crypto-Assets (MiCA) rules would have become taxable from January 2027. Today, many crypto-to-crypto swaps can still enjoy a tax deferral until a conversion into fiat or another taxable use.
• Self-custody reporting (adopted 3 November, 150–44): Taxpayers holding at least €100,000 (about $112,000) in qualifying self-custodied crypto on 31 December of the tax year would have had to declare those holdings, with fines of up to €10,000 for non-compliance. That was disclosure, not a new annual wealth tax. Nodora covered the adoption in France Crypto Tax: Assembly Backs €100K Self-Custody Wallet Reporting.
• Platform information penalties: One amendment would have raised penalties for crypto platforms that fail to provide information requested by tax authorities from €10,000 to €50,000.

French-language coverage also notes that other Assembly additions outside pure crypto tax — including a higher financial-transaction tax rewrite and a short-lived “gigabyte” data tax — disappear from the Assembly version for the same procedural reason.

Why the vote matters for crypto users

For French holders and platforms, the rejection is a procedural reset rather than a permanent repeal of the ideas. The measures are off the Assembly’s amended text, but senators can table similar amendments when they examine the bill.

Two wider tracks still matter regardless of this vote:

1. DAC8 / platform reporting — EU rules already push covered crypto service providers to collect reportable transaction data involving EU residents (collection from 2026, with exchanges between tax authorities scheduled from 2027). That path does not depend on the €100,000 self-custody amendment.
2. Budget endgame tools — After the Senate round and any joint committee, the government can still try to force a budget through under Article 49.3 (subject to a no-confidence risk) or, after the constitutional timetable expires, by ordinance. Either route could reopen room for tax measures.

Industry voices had already warned that stacking a stablecoin conversion tax with self-custody disclosure and other rules could hurt France’s appeal for crypto businesses. Morpho’s Faustine Fleuret, quoted before and around the vote, urged lawmakers to keep pace with financial innovation without undercutting self-custody and decentralised finance.

Market reaction

The vote is a French fiscal-procedure story more than a single-coin catalyst, and major tokens were soft in the hours around Asia’s Thursday night session. On OKX spot at draft time:

• Bitcoin (BTC) was near $78,850, down about 0.7% over 24 hours
• Ethereum (ETH) was near $2,365, roughly flat to slightly lower
• BNB was near $704, down under 1%

Price moves on the day tracked the broader market rather than a France-only risk-on bounce. Traders watching regulation still have Hong Kong’s newly passed CARF reporting law and other EU DAC8 timelines on the calendar; see Nodora’s Hong Kong Crypto Tax Law Passed: Exchanges to Report From 2027 for that parallel track. Live prices remain on Nodora Charts.

What to watch next

• Senate calendar: Debate on the 2027 finance bill is scheduled to begin around 20 November, with revenue articles from about 23 November. Watch whether stablecoin taxation or wallet reporting returns as Senate amendments.
• Joint committee / CMP: After the Senate vote, a commission mixte paritaire of deputies and senators may try to reconcile texts.
• Government levers: Any use of Article 49.3, or a late ordinance path after the constitutional deadline, could change which tax clauses survive.
• DAC8 implementation: Platform reporting obligations continue even if the €100,000 self-custody line stays out of the budget.

For now, French crypto users who only followed the €100,000 wallet headline should treat that rule as not part of the Assembly text sent forward — while remembering it can come back before the budget is final.

#France #Bitcoin #Regulation #Stablecoins #Taxes

This article is general information, not financial advice.