France has proposed a groundbreaking tax on unrealized capital gains for Bitcoin and other “non-productive” assets. If implemented, this would mark a major shift in how cryptocurrencies are taxed.
The tax would apply to value increases in assets like Bitcoin, luxury cars, private jets, and yachts, even if the assets remain unsold. Currently, France only taxes cryptocurrencies when gains are realized upon sale, with a flat rate of 30% on profits.
JUST IN: 🇫🇷 France proposes tax on unrealised capital gains for #Bitcoin and other “non productive” assets.
— Radar🚨 (@RadarHits) December 3, 2024
This proposal, debated in the French Senate as part of the 2025 budget, requires approval from the National Assembly before becoming law. Proponents argue it could generate additional government revenue, but critics warn it could stifle innovation in the crypto space and deter investment.
Analysts see this as part of a global trend toward stricter crypto regulation and taxation. France has already imposed extensive reporting requirements for crypto investors, including mandatory declarations of foreign-held accounts.
https://www.cryptopolitan.com/france-tax-unrealized-bitcoin-gains/
https://www.fxleaders.com/news/2024/12/03/france-propose-tax-on-unrealized-crypto-gains/
https://www.mitrade.com/insights/news/live-news/article-3-501786-20241203
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