French Parliament Rejects Two Bills to Impose Digital-Asset Exit Tax

France’s parliament has rejected a pair of bills that would have imposed taxes on unrealized gains when digital-asset investors move abroad, a so-called exit tax.

Cointelegraph reported on November 30 that France’s National Assembly, the lower house of parliament, voted down both bills on October 30 that sought to apply the exit tax to digital assets.

The first bill would have added digital assets to the assets already covered by the existing exit tax. It was rejected by a vote of 27 to 55, with one abstention.

The second bill targeted investors who had been French tax residents for at least six of the past 10 years and then moved overseas. It would have taxed unrealized gains if a household’s digital-asset holdings exceeded 800,000 euros. That measure was also rejected, by 31 votes to 60.

Debate over broader changes to France’s digital-asset tax regime is set to continue, excluding the exit tax. Lawmakers are considering requiring disclosure of assets worth more than 100,000 euros held in personal wallets and exempting capital-gains tax on digital-asset payments of 1,000 euros or less a year.