TL;DR
France’s National Assembly delayed the 2027 budget revenue vote with 758 amendments still pending, but two crypto exit-tax proposals had already been rejected separately.
Amendment 3904 failed 27-55, while amendment 3432 failed 31-60. Both sought to extend exit taxation to large crypto holdings when taxpayers moved abroad.
A separate stablecoin-tax amendment remains alive after passing 38-37, meaning France’s crypto tax debate continues despite the exit-tax defeats in the budget process.
France’s National Assembly delayed its vote on the revenue section of the 2027 budget after lawmakers rejected two proposals that would have extended exit taxes to cryptocurrency holdings . The official end-of-session notice said 758 amendments remained under discussion after Monday’s sitting. The delay keeps the wider budget process open, while the rejected exit-tax measures are already out of the Assembly’s current text. The debate intersects with France’s treatment of stablecoins and other digital assets under its tax framework.
Crypto Exit-Tax Amendments Fail Before Budget Vote Is Delayed
Lawmakers rejected amendment 3904 by 27 votes to 55, blocking a proposal to include crypto assets within the existing exit-tax base when taxpayers move their fiscal residence abroad . The measure would have combined qualifying securities and crypto holdings when assessing the €800,000 threshold. The government and Finance Committee rapporteur opposed the amendment, with the rapporteur arguing that crypto volatility could make the existing exit-tax mechanism inequitable for digital assets.
A fallback amendment, 3432, also failed. That proposal would have created a separate €800,000 threshold specifically for crypto holdings and taxed unrealized gains when qualifying residents left France. It was rejected by 31 votes to 60. The outcome reverses the earlier committee-stage momentum behind expanding the tax, previously reflected in France’s crypto exit-tax and stablecoin proposals .
The postponement itself did not defeat those amendments. Both exit-tax proposals had already been rejected on October 30, before the Assembly reached Monday night with hundreds of budget amendments still outstanding. The official notice scheduled continued debate for November 3 rather than a completed vote. France’s Assembly must therefore continue examining the revenue section, while other crypto measures remain part of the broader tax-policy debate around regulated stablecoins .
One major crypto amendment remains relevant. Lawmakers previously adopted amendment 3898, which would end the current tax deferral for certain conversions from cryptocurrencies into fiat-pegged stablecoins if the budget ultimately becomes law. That measure passed 38 to 37 and remains subject to the wider legislative process. France’s continuing budget negotiations therefore produce a mixed result for digital assets: the strict exit-tax extensions failed, while separate crypto-tax provisions remain alive. The episode also fits a broader French debate over taxing digital wealth , but none of the pending budget measures should be treated as enacted law until the full legislative process is completed under France’s current budget framework today.
