France’s New Tax Rule Wants Bitcoin Holders To Pay Taxes

The post France’s New Tax Rule Wants Bitcoin Holders To Pay Taxes appeared first on Coinpedia Fintech News France is pushing a new rule to tax Bitcoin and other cryptocurrencies. The plan, introduced by Senator Sylvie Vermeillet, suggests classifying Bitcoin as an “unproductive” asset. If the value of your crypto gains goes over €800,000, you’ll have to pay taxes, even if you haven’t sold it. The idea is to treat Bitcoin like luxury goods or empty properties. Finance Minister Laurent Saint-Martin supports this change, saying it will make the tax system more balanced. Some in the crypto community, like Web3 marketer Alice Stork, have expressed concerns, arguing that taxing unrealized gains could drive businesses away due to crypto’s volatility. If the bill passes, French crypto holders would be required to report foreign holdings annually, with fines for failing to comply.