According to CoinMeta, France has proposed to impose a 31.4% tax on the profits from converting cryptocurrencies into stablecoins, even if investors do not withdraw the funds to their bank accounts. This proposal will classify such conversions as electronic money tokens under EU regulations, making them taxable starting from January 1, 2027. The act of transferring funds into stablecoins to avoid market fluctuations may trigger tax liabilities. The current default tax rate of 31.4% will apply to taxable profits, rather than the entire amount of the conversion. Conversions of ordinary cryptocurrencies into other cryptocurrencies are generally still eligible for tax deferral.