France Stalls 2027 Budget Vote Again as Two Crypto Exit-Tax Plans Die

France's National Assembly has pushed its 2027 budget vote back again. Instead of casting ballots Monday night, lawmakers will keep grinding through the revenue section on Tuesday, with 758 amendments still waiting in the queue, according to the Assembly's end-of-session notice.

It's the second time the vote has slipped. The original date of Oct. 20 came and went with more than 2,000 amendments on the table, French newspaper Le Monde reported. Lawmakers now have until midnight on Nov. 17 to wrap up the first-reading examination.

The clock matters. If the revenue section gets rejected, the government's original budget heads to the Senate without any of the amendments MPs managed to pass.

Crypto got a reprieve Friday. The Assembly voted down two separate exit-tax proposals aimed at unrealized crypto gains when taxpayers move their tax residence abroad. The first, which would have folded crypto assets into France's existing exit tax regime, failed 55 to 27 with one abstention. The second, targeting unrealized gains on household crypto holdings above 800,000 euros ($897,000) for people who'd been French tax residents for at least six of the previous 10 years, lost 60 to 31.

More crypto fights are still on the docket. One proposal would force taxpayers to report self-custodied crypto worth 100,000 euros ($112,000) or more, valued at year-end. Another would exempt crypto gains on payments for goods and services from tax when those payments stay under 1,000 euros ($1,120) in a tax year.

And one crypto measure has already cleared a hurdle: on Oct. 16, lawmakers approved taxing gains when crypto is converted into fiat-pegged stablecoins. It hasn't become law, and with the budget still in flux, nothing is settled yet.