Tax Gets Watered Down

The most likely path is that France uses the 31.4% proposal as a bargaining chip after the failed 2027 budget revenue plan. Lawmakers, AMF officials, and crypto industry groups push the measure toward narrower anti-avoidance language rather than a blanket tax on stablecoin conversions.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.