France's Finance Committee rejected the revenue section of the 2027 budget, and in doing so invalidated the exit tax on crypto assets it contained. The mechanism matters as much as the outcome, since the tax died as part of a wider budget rejection rather than through any argument about crypto itself, which means it can return in a revised bill. Elsewhere: Australia's ASIC plans to bring digital-asset-settled contracts under its contracts for difference framework, South Korea will expand security tokenization to stocks, bonds and funds with rules effective February 2027, and Morgan Stanley intends to support tokenized equities on an alternative trading system in the first quarter of 2027. The Financial Accounting Standards Board is also weighing whether qualifying stablecoins can be classified as cash equivalents, which would be the most consequential of the group for corporate balance sheets.