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France Moves to Tax Stablecoin Swaps, and ESMA Asks About Tokenised Collateral

Two European crypto-policy steps from 7–9 October 2026: the French National Assembly's finance committee adopted amendments to tax crypto-to-stablecoin swaps and extend the exit tax to crypto (proposals; the full chamber debates from 13 October), and ESMA opened a call for evidence on tokenised collateral at EU clearing houses, with responses due by 15 January 2027.

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