The National Assembly has just postponed — for the second time — the vote on the revenue section of the 2027 budget. In the process, several amendments aimed at introducing a crypto exit tax were rejected, a development that has come as a relief to a significant portion of the French crypto community.

With the November 17 deadline for the first reading fast approaching, the budget calendar is descending into chaos. And for crypto holders in France, the tax implications have never felt more real.

Here is what this political reversal actually means for cryptocurrency investors based in France.

A 2027 Budget Under Pressure: Why the Vote Was Delayed Again

The National Assembly voted to postpone the examination of the revenue section of the Finance Bill for the second consecutive time. This parliamentary deadlock reflects deep divisions within the governing coalition over the fiscal direction to be taken for 2027.

The November 17 deadline for the first reading represents a major constitutional constraint. If the Assembly fails to pass the text within the required timeframe, the government may resort to ordinances to push the budget through — a scenario that would only deepen the institutional tensions that have been building for several months.

This climate of budgetary instability has direct consequences for tax visibility among participants in the French crypto market. Regulatory uncertainty remains one of the primary barriers to institutional adoption of digital assets across Europe, and France is no exception.

Crypto Exit Tax: Which Proposals Were Rejected and Why It Matters

Among the rejected amendments were proposals to apply a crypto exit tax on unrealized capital gains at the point of transferring tax residency outside of France. This mechanism, already applied to certain traditional financial assets, would have represented a significant obstacle to the mobility of the most heavily exposed crypto investors.

In practical terms, such a measure would have required holders of substantial crypto portfolios to declare and potentially pay tax on their unrealized gains at the moment of leaving French tax jurisdiction. For high net worth individuals with significant digital asset holdings, the impact could have been considerable — with some analysts warning of a direct chilling effect on France’s Web3 ecosystem.

The rejection of these proposals does not mean the matter is definitively closed. The budget debate will continue, and new amendments could be tabled during upcoming readings. Industry stakeholders — including trade associations, crypto exchanges, and investment funds — are actively monitoring how the text evolves.

What French Crypto Investors Need to Watch Now

The current tax framework applicable to cryptocurrencies in France is built around a flat tax rate of 30% (prélèvement forfaitaire unique) on capital gains realized from the disposal of digital assets. This framework, introduced under the 2019 Finance Act, remains in force — but it is regularly challenged during each budget cycle.

Several key points deserve close attention in the weeks ahead: how the budget text evolves during the second reading in the Senate, whether any new tax amendments targeting digital assets are introduced, and the government’s stance on the treatment of stablecoins and staking income, both of which remain in a relative legal grey area under French law.

For institutional investors and retail holders with significant crypto exposure, tracking this legislative file is just as strategic as analyzing the markets themselves. French crypto taxation remains among the most closely watched in Europe — and every budget session has the potential to redraw its boundaries.