is a pro-cryptocurrency country, which has also prompted several crypto exchange platforms, including Crypto.com and Binance, to choose Paris for their European headquarters.
It is to continue on this path that the country plans to review its tax rules for cryptocurrencies next year to develop a suitable tax framework to become the world's leading center for blockchain.
France wants to set up a specific tax system for cryptocurrencies
The country's Finance Minister Bruno Lemaire announced an overhaul of cryptocurrency taxation during an interview with BFMTV yesterday, stressing that France will not seek to simply replicate existing standards for equities.
"We want to make the European Union the world's leading economic zone for structuring and organizing the crypto-currency market," said Mr. Le Maire. "We want France to be the European hub of the crypto-asset ecosystem," he added.
Recall that, for its part, the EU has just approved its law on cryptocurrency asset markets (MiCA), which allows crypto companies to operate in the European Union if they meet specific investor protection standards. And stability.
"We want to use the year 2023 to deepen our reflection with the stakeholders in order to identify whether further adaptations of the tax legislation are necessary", declared the Minister of Finance, specifying that "pure and simple alignment with the taxation of shares is not necessarily a desirable goal. »
Bruno Lemaire also highlights the disadvantages and dangers of cryptocurrencies.
Bruno Le Maire also took advantage of this interview to express his concern about the environmental impact of cryptocurrencies, welcoming in passing the recent transition of the Ethereum blockchain towards a proof-of-stake system much less energy-intensive than the proof of work on which it is based. Bitcoin.
He also made it clear that he in no way imagines that cryptocurrencies can replace national currencies, stressing the need for a single coin:
"The idolatry of a world without a state, without a central bank, without borders and without money (…) would endanger our sovereignty, but also and above all the most vulnerable among us", he declared. , adding: "Our currency is the euro and having only one currency to pay taxes is a condition of our unity."
France, a famous country for crypto companies
Finally, several cryptocurrency companies have announced in recent months that they have chosen France as their regional headquarters.
After Binance in June, it was indeed Crypto.com that announced last week the future opening of a headquarters in Paris, welcoming the favorable environment for cryptocurrencies.
Binance's CEO had meanwhile praised the country's "pro-crypto regulations," saying that France was "very well placed to be the leader of this industry in Europe."»
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