French crypto industry calls for urgent stablecoin payment legislation

Three figures from France's local cryptocurrency industry have argued in a joint op-ed that creating a legal framework for stablecoin payments is an urgent priority, French daily Le Monde reported. The contributors called for tax reform to encourage the adoption of stablecoin payments, noting a surge in online transactions conducted by AI agents that are predominantly settled in stablecoins. They criticized France's current tax system as outdated, arguing it is irrational now that the European Central Bank (ECB) legally recognizes regulation-compliant stablecoins as "e-money." The op-ed compared the current law to a hypothetical tax levied every time a user transfers money from a PayPal account to a bank account. This tax structure, they claimed, incentivizes French investors to hold their profits in stablecoins rather than converting them to euros. The authors concluded that France is being left behind as stablecoin infrastructure is built out globally.