France Weighs 31.4% Capital Gains Tax on Bitcoin-to-Stablecoin Trades

The notable part is the carve-out: only MiCA-compliant e-money tokens like USDC would trigger the levy, effectively drawing a regulatory line between compliant and non-compliant stablecoins inside the tax code itself. That matters for French holders who rotate between BTC and dollar tokens, and it signals how tax policy could become another lever for shaping which stablecoins dominate European on-chain activity. The committee's rejection of the revenue section, however, leaves the whole package's trajectory unresolved; whether the carve-out or the self-custody declaration survives the budget process is the open question.