French cryptocurrency industry leaders have called on the government to urgently reform the outdated tax framework for stablecoins. Current French tax laws require taxes to be paid when stablecoins are converted to fiat currency, leading to significant amounts of crypto funds remaining outside the traditional banking system. This results in an annual tax revenue loss estimated between €1 billion and €3 billion. The executives argue that with the increasing use of stablecoins for payments by AI agents, France must adjust its 2027 budget law within the next six months to treat stablecoin-to-fiat conversions as tax-free withdrawals, similar to other countries, or risk missing out on substantial economic benefits from the convergence of AI and crypto payments.
French Crypto Executives Urge Tax Reform on Stablecoins
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