French Lawmakers Vote Down Two Proposals to Tax Crypto Holders Who Leave the Country

France’s National Assembly has, for now, turned down plans to tax crypto holders who move abroad. Cointelegraph reported that lawmakers rejected two proposals on Friday during debate on the 2027 budget.

The first would have added crypto assets to France’s existing exit tax regime and failed by 27 votes to 55, with one abstention. The second would have taxed unrealized gains on household crypto holdings worth more than 800,000 euros, about $897,000, when a taxpayer moves tax residence abroad, provided they had been French tax residents for at least six of the previous 10 years. It was rejected 31 to 60. Cointelegraph did not name who proposed either measure.

The votes came as the Assembly postponed the vote on the budget’s revenue section for a second time. The first delay came on October 20 with more than 2,000 amendments pending, and 758 remained for debate on Tuesday. The Assembly must finish its first-reading examination by midnight on November 17. If the revenue section is rejected, the government’s original proposal goes to the Senate without the amendments MPs adopted.

Other crypto measures are still pending. They include reporting of self-custodied holdings worth at least 100,000 euros, and a tax exemption for gains on crypto payments if total payments stay within 1,000 euros in a tax year. On October 16, lawmakers approved taxing gains when crypto is converted into fiat-pegged stablecoins, but that measure has not become law.

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Sources:

• Cointelegraph: France postpones 2027 budget vote, rejects crypto exit tax