2027 budget rejected 458 votes to 0: the stablecoin tax falls, focus on the Senate

France’s National Assembly rejected the 2027 budget by a 458-0 vote, stripping out a proposed stablecoin tax and a set of crypto amendments attached during earlier debate. The chamber’s action sends the government’s original budget text to the Senate, which will now restart work from the executive’s version rather than the amended draft. The stablecoin levy’s removal matters for crypto firms and holders in France, as it had been one of the sector-specific revenue measures in play. The unanimous rejection signals broad cross-party opposition to the amended package rather than a targeted crypto vote. What to watch next is whether the Senate reintroduces any stablecoin tax or crypto provisions as it builds its own version of the 2027 budget.