The French National Assembly has postponed the 2027 budget vote again, and two proposals for a cryptocurrency exit tax have been rejected

The French National Assembly has once again postponed the vote on the revenue portion of the 2027 national budget, marking the second delay of this vote. According to the notice of the end of the parliamentary session, Tuesday's agenda includes questioning the government and continuing the debate on the revenue portion of the budget, with 758 amendments still pending review. The vote originally scheduled for October 20 was postponed due to over 2,000 amendments awaiting debate. The Assembly must complete the first reading by midnight on November 17; if the revenue portion is rejected, the government's original budget proposal will be submitted directly to the Senate without the amendments approved by the members.

Regarding cryptocurrency taxation, lawmakers rejected two proposals last Friday. The first proposal aimed to include cryptocurrency assets in France's current exit tax system, with a voting result of 27 votes in favor, 55 votes against, and 1 abstention. The second proposal sought to tax unrealized gains on household cryptocurrency assets valued over 800,000 euros (approximately 897,000 USD), applicable to taxpayers who have been French tax residents for at least 6 of the past 10 years, with a voting result of 31 votes in favor and 60 votes against.

Other cryptocurrency-related proposals are still pending debate, including a requirement for taxpayers to report self-custodied cryptocurrency assets with a total value of at least 100,000 euros (approximately 112,000 USD) to the tax authorities based on year-end value; and an exemption from related capital gains tax if the total amount of cryptocurrency payments used for goods and services during the tax year does not exceed 1,000 euros (approximately 1,120 USD). The Assembly passed a proposal on October 16 to tax gains when cryptocurrency assets are exchanged for fiat currency-backed stablecoins, but this measure has not yet become law.