French finance panel backs taxing Bitcoin-to-stablecoin swaps in 2027 budget

The French National Assembly Finance Committee has voted in favor of taxing Bitcoin-to-stablecoin swaps as part of the proposed 2027 budget. This amendment, yet to become law, would treat these swaps as taxable events, even if the conversion does not involve a direct cash-out to euros or other fiat currencies. The proposal marks a shift from the current system, which typically defers taxation on crypto-to-crypto exchanges until conversion into fiat currency. The move is seen as an effort to regulate the growing cryptocurrency market within France. Market participants appear to interpret this development as introducing regulatory uncertainty, which is likely to have an impact on Bitcoin’s price outlook. Current pricing in prediction markets suggests a decrease in the perceived likelihood of Bitcoin reaching $200,000 by the end of 2026. The odds reflect a cautious stance among market participants, who are weighing the potential implications of this regulatory change on the broader cryptocurrency market. Key Takeaways The French finance panel’s vote suggests potential regulatory changes, adding uncertainty to the crypto market. Pricing in prediction markets indicates a decrease in the...