France Considers New Tax on Crypto Assets
Date: 2024-12-04 Author: Oliver Abernathy Categories: IN WORLD
These include cryptocurrencies such as Bitcoin and Ethereum, as well as luxury goods, including private jets, yachts and luxury cars.
The author of the initiative, Sylvia Vermeillet, called such assets “unproductive wealth”. She argues that historically wealthy people use them to preserve and increase their capital, but if an asset does not generate income or does not contribute to the development of the economy, it should be subject to additional taxation. According to Vermeillet, this is a fair way to redistribute wealth.
Opponents of this idea in the Senate warn of possible negative consequences. They believe that such a tax will scare away investors, reduce interest in cryptocurrencies and lead to a drop in their liquidity on the French market. In addition, the introduction of such a tax could trigger stricter regulation of crypto assets in other countries of the European Union, which will hinder the development of this industry.
The discussion also coincides with the statement of French President Emmanuel Macron at the recent G20 summit. He said that cryptocurrencies pose a threat to financial stability, which underlines the general skepticism of the French authorities regarding digital assets.
A decision on the introduction of a new tax has not yet been made, but the discussion of this measure shows that the regulation of the crypto industry remains in the center of attention of European legislators.
