The Finance Committee of the French National Assembly has rejected the budget bill, rendering the encrypted tax amendment invalid

The Finance Committee of the French National Assembly rejected the revenue portion of the 2027 budget bill with 31 votes to 3, rendering amendments such as the cryptocurrency exit tax and stablecoin exchange tax ineffective. The relevant proposals need to be resubmitted. The National Assembly will re vote on the revenue portion of the budget on October 20th and vote on the entire bill on November 17th. The previously passed amendments include including the inclusion of cryptocurrency exchange for stablecoins in the taxable scope, expanding the scope of exit tax, and requiring self custodial wallets with a year-end value exceeding 100000 euros to be declared. Those who fail to declare will face a maximum fine of 10000 euros. (Source: Euronews)