French Lawmakers Back Stablecoin Swap Tax by Just One Vote

French lawmakers narrowly passed an amendment, by a single vote, that would make swapping crypto into euro- or dollar-denominated stablecoins a taxable event starting in 2027. Gains would be calculated coin by coin, adding compliance complexity for holders who rotate into stablecoins. The narrow margin signals fragility, but if enacted it raises the tax burden on a common trading practice in France, a negative for local crypto activity and stablecoin usage.