France and Greece Propose New Tax Measures for Crypto Investors

France is set to introduce new tax measures affecting its wealthiest crypto holders as the National Assembly’s Finance Committee has approved amendments to the 2027 budget bill. These amendments would impose an exit tax on households with crypto holdings exceeding €800,000 who decide to move abroad. Additionally, swaps from cryptocurrencies to stablecoins would be treated as taxable events starting January 1, 2027.

The exit tax amendment, known as Amendment I-CF1822, aims to align crypto taxation with that of traditional financial assets, closing perceived loopholes. Departing taxpayers would benefit from payment deferral mechanisms similar to those for stocks. The second amendment, I-CF1826, specifically targets crypto-to-stablecoin transactions, while crypto-to-crypto swaps without cash components remain untaxed. A related provision would allow investors to carry forward realized losses for up to 10 years, mirroring stock loss treatments.

Meanwhile, Greece is drafting a law to impose a 15% capital gains tax on crypto investments, as reported by local media and Reuters. Under the proposed legislation, the first €500 of gains each year would be exempt from taxation. The tax would only apply to net gains realized when converting crypto into euros or using it for purchases, and not on swaps between cryptocurrencies. Investors would also be allowed to carry forward losses against future gains for up to five years. This law is set to be submitted to parliament in November and would take effect retroactively from January 1, 2025.