France wants tax on stablecoins: what does this mean for crypto?

France wants to tighten the tax rules for crypto investors considerably. A new proposal could mean that from 2027 investors will also have to pay tax when they exchange their crypto coins for stablecoins.

In addition, there is a plan for a departure tax for wealthy crypto holders. The developments fit within a broader European movement to control and tax crypto profits more strictly.

For French crypto investors, it can soon become a lot more complicated to secure profits. According to the proposal, transactions in which crypto coins are exchanged for stablecoins could become taxable from 2027.

That's an important change. Stablecoins are digital currencies that are typically linked to a traditional currency, such as the US dollar. Well-known examples are Tether (USDT) and USD Coin (USDC).

Investors often use these coins to temporarily step out of the mobile crypto market, without transferring their money directly to a bank account. For example, an investor who sells Bitcoin (BTC) for USDT remains within the crypto market.

It is precisely this method that can have tax consequences due to the French plans. If the conversion to a stablecoin is considered a taxable moment, investors may have to pay tax on their realized profits, even if they do not convert the money into euros.

This can have consequences for trading strategies. Investors who regularly switch between cryptocurrencies and stablecoins could face more tax liabilities.

For the time being, this is a proposal. The final rules depend on the further political treatment.

France is also looking at a departure tax for people with large crypto assets. The proposal is aimed at investors who have more than 800,000 euros in digital assets and are moving abroad.

The aim is to prevent wealthy investors from leaving France to avoid taxation on accumulated crypto profits.

Such a measure can have consequences especially for people who have built up their wealth largely in Bitcoin, Ethereum (ETH) or other crypto coins. They may have to take into account a tax settlement when moving, even if they have not actually sold their digital assets.

At the same time, there is talk of a broader scheme for offsetting losses. Crypto investors could potentially take losses up to ten years to offset against future gains.

This can be beneficial for investors who suffer significant losses in a bad year on the stock market and do not make a profit again until years later. Whether this scheme is actually introduced also depends on the final decision.

France is not alone in its plans. Greece is also working on clearer tax rules for crypto investors.

There is talk of a tax of ten percent on realized crypto profits. Under the proposed scheme, an exemption of 500 euros would apply.

This means that smaller investors may be less likely to pay taxes, while larger profits are covered by the scheme. The exact consequences depend on the final outcome.

Meanwhile, the European supervision of crypto transactions is also changing. New reporting obligations under DAC8 have been in place within the European Union since January 2026.

Those rules oblige crypto service providers to collect and pass on certain data about customers and transactions to tax authorities. The aim is for European countries to gain better insight into crypto assets and taxable transactions.

For Dutch and Belgian investors, this does not automatically mean that the French tax plans will also apply here. Tax rules remain largely a national matter.

However, DAC8 makes it more difficult to keep crypto transactions out of the sight of the tax authorities. This also applies to investors who use foreign trading platforms.

The combination of national tax plans and European data exchange shows that crypto investors are increasingly exposed to the same tax controls as traditional investments.