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      France Proposes 31.4% Capital Gains Tax on Bitcoin-to-Stablecoin Conversions and Requires Declaration of Self-Custody Wallets Over €100,000

      PANews reported on October 16, citing Bitcoin News, that French lawmakers have proposed several digital asset tax amendments during discussions on the 2027 budget. First, the current 31.4% capital gains tax would be extended to Bitcoin-to-stablecoin conversions, limited to stablecoins that meet the MiCA definition of e-money tokens, such as USDC. Second, an exit tax would be imposed on those holding more than €800,000 in digital assets who move their tax residence out of France. Third, self-custody holdings worth at least €100,000 would need to be declared, with fines of up to €10,000 for violations. Fourth, losses would be allowed to be carried forward for 10 years. The National Assembly Finance Committee rejected the revenue portion of the budget 31 to 3 on October 9, and the relevant amendments would need to be resubmitted. The revenue portion was originally scheduled for a vote on October 20, and none of these have become law yet.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud