Crypto taxation in France: how your crypto is taxed
Updated on 21 September 2026
Bitcoin, Ether, stablecoins, DeFi tokens: in France, cryptocurrencies ("digital assets", actifs numériques, in the Code général des impôts) have their own regime, set by article 150 VH bis of the CGI for individuals who invest on a non-professional basis. Here is what triggers the tax, at what rate, and how the capital gain is calculated.
What is taxable… and what is not
Tax on crypto is only due at the time of a taxable disposal :
- Selling crypto for euros (or any legal tender);
- Paying for goods or services in cryptocurrency;
- exchanging it for an asset that is not a digital asset.
Conversely, the following are not taxable when they occur:
- the swaps from one crypto to another (BTC → ETH, ETH → USDC…), including into a stablecoin: tax is deferred until the later conversion into euros;
- simply holding, even with a large unrealised gain;
- transfers between your own wallets and exchanges.
The rate: 31.4% flat tax
Capital gains on disposals of digital assets are subject to the single flat-rate levy (PFU, prélèvement forfaitaire unique), known as the "flat tax". Since the 2026 social security financing act (LFSS), which raised the CSG on capital income from 9.2% to 10.6%, its overall rate is 31.4% (30% previously):
| Income tax | 12.8% |
| Social contributions (including 10.6% CSG) | 18.6% |
| Total | 31.4% |
|---|
Opting for the progressive scale
You can opt for the progressive income tax scale instead of the 12.8%. This pays off if your marginal tax bracket is 0% or 11%. The option is global (it applies to all your capital income for the year) and is ticked in box 2OP of form 2042.
The €305 threshold
If the total of your disposals for the year (the sale price, not the gain) does not exceed €305, the gains are exempt. Above that, the entire gain is taxable.
Calculating your crypto capital gain: the weighted average price of the portfolio
France applies neither FIFO nor a line-by-line calculation: the gain is calculated at the level of the whole portfolio of digital assets, on each taxable disposal:
Plus-value = Prix de cession − (Prix total d'acquisition du
portefeuille × Prix de cession ÷ Valeur globale du portefeuille)
A full example, over two sales: calculating your crypto capital gain.
The overall portfolio value is assessed just before the disposal, across all wallets, exchanges and protocols, including tokens deposited in a DeFi protocol. The total acquisition cost is the sum of everything you paid in euros, minus the share of capital already "used up" by earlier disposals. Crypto-to-crypto swaps do not change it.
This is what makes the calculation painful as soon as you use DeFi: you need the value of all of your portfolio on the date of each sale for euros, including lending, staking and liquidity positions.
Capital losses
A net capital loss for the year can only be offset against digital-asset gains of the same year. It cannot be carried forward to later years, and cannot be offset against gains on shares.
When you switch to the professional regime
Regular, organised trading, with means comparable to those of a professional, can be requalified as non-commercial profits (BNC, bénéfices non commerciaux) and taxed at the progressive scale. Mining and some validation activities also fall under specific regimes.
Filing obligations
Two forms, to be filed with your income tax return: the form 2086 (calculation of the gains, carried over to box 3AN or 3BN of form 2042-C) and the form 3916-bis (declaration of each digital-asset account opened abroad). Step by step: how to declare your crypto.
Note: with the European directive DAC8, applicable since 1st 2026 January, exchanges automatically report their customers' transactions to the tax authorities.
Frequently asked questions
What is the tax rate on crypto in 2026?
The flat tax on cryptocurrency gains is 31.4%: 12.8% income tax and 18.6% social contributions, after the CSG increase voted in the 2026 LFSS (social security financing act).
Is a swap between cryptos taxable?
No. Swaps between digital assets, including into a stablecoin, benefit from a tax deferral. Tax is due on conversion into euros or on a payment in crypto.
Is there an exemption threshold for crypto?
Yes: if the total of taxable disposals for the year does not exceed €305, the gains are exempt.
General information, not tax advice. The rules change with every finance act and depend on your situation. For a complex case (regular activity, large amounts, a tax audit), have it checked by a chartered accountant or a tax lawyer.
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