French Assembly Narrowly Backs Tax on Crypto-to-Stablecoin Swaps
Edited by Steinar Vigdel Kolnes, Editor, Oslo
France’s National Assembly narrowly approved a proposal to tax gains on crypto-to-stablecoin swaps, though the measure is not yet final.
France’s National Assembly has narrowly backed a proposal that would bring cryptocurrency-to-stablecoin exchanges under capital gains taxation, according to Bitcoin.com News.
If enacted, the measure would apply a 31.4% tax on capital gains when holders exchange cryptocurrency for stablecoins. Assembly approval does not mean the proposed rules are already in force.
Analysts cited in the report expect the change would lead French crypto holders to consider other ways to park their digital assets rather than converting them into stablecoins.
Source: Bitcoin.com News
