France passes bill imposing 31.4% capital gains tax on crypto-to-stablecoin conversions

On October 20, citing CoinDesk, France narrowly passed a cryptocurrency tax amendment that would impose a 31.4% capital gains tax on transactions converting crypto assets into stablecoins starting January 2027. However, the amendment still needs approval from the French Senate and must go through the budget reconciliation process before it can officially become law.