French crypto stakeholders urge tax reform as 31.4% rule hits stablecoin cash-outs

On May 18, three French crypto industry stakeholders warned that France's 2019 tax rules can apply a 31.4% charge when regulated euro stablecoins are moved from wallets to bank accounts, potentially discouraging onshore conversions. They said the friction could drive capital offshore and reduce public revenue by an estimated 1 billion to 3 billion euros a year as AI-agent payments increasingly settle in stablecoins.