French crypto practitioners call on government to revise stablecoin tax policy

According to a joint article written by several French crypto industry executives, the current stablecoin tax policy is seriously outdated. According to current regulations, taxes are required to be paid to convert stablecoins into fiat currencies and withdraw them into bank accounts, resulting in a large number of crypto assets being forced to stay outside the traditional financial system, and an estimated tax loss of 1 billion to 3 billion euros per year. The article calls for the French government to make targeted adjustments to the 2027 Budget Bill within the next six months as AI agents are using stablecoins on a large scale for payments. It is recommended to follow the practice of other countries and define the exchange of stable currencies and legal currencies as "tax-free withdrawal" behavior. The industry warned that if France misses the critical window of this half year, it may miss out on the major industrial dividends brought by the integrated development of AI and encrypted payments.