Cryoptocurrency is now movable property in France.

[Beehives]

This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent

[bitcoinjasensatom]

This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent

France is now ruled that cryptocurrency sales are in principle of the category of capital gains of movable property with some exemption. Movable property refers to tangible and intangible assets. France is generally supportive of cryptocurrencies and the country will take a lead  in regulation.

[8count]

The biggest bonus from this is, if you live in France and are a cryptocurrency investor or trader is the reduce amount of tax you now have to pay on your profits. 45% down to 19% is a huge win for bigger investors.

[BitcoinHodler]

this is somewhat a sad thing though. but it is expected since the altcoins are not really currencies despite what their name suggests. so it is only logical to consider them as property, commodity, security,... instead of considering them as a currency.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.

[sjbi]

It is good to hear that cryptocurrency is being considered as a property, asset and the like, especially at a time when other countries are ignoring the new and yet inevitable invention under different pretexts. As to me, crypto cannot take over fiat money, given its volatility and its numbers. There are hundreds of coins and which coin can be considered as a fiat money. Only the government can issue only one digital currency which can have capacity to replace fiat money. Others will be put into other categories.

[kryptqnick]

this is somewhat a sad thing though. but it is expected since the altcoins are not really currencies despite what their name suggests. so it is only logical to consider them as property, commodity, security,... instead of considering them as a currency.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.

Sad but true, as most of people treat alts more like stocks, something they trade, not use and earn. It seems a bit weird that cryptos are considered to be property, though, since it means people will not be able to pay with them or declare the salary received in coins.
While reducing the taxes from 45% from 19% sounds good, I think 19% is still unjustifiably high. People should feel encouraged to do business with cryptocurrencies legally. As they are used to paying no taxes, it would be best to set low tax fees (no more than 10%) at least for the time being. This would still be beneficial both for the government and for the crypto community. I don't understand why the taxes should be so high.

[bitcoinvestor]

it is better to be properties than baned. Bitcoin is and cryptocurrency is banned in China is bad. In France as movable properties are good. There are many kinds opportunities for token holders to have properties. In this situation. People can have good wealth in the digital world.

[vlad230]

This is still bad news for the crypto world...

Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.

1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.

2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.

[allanr]

This is still bad news for the crypto world...

Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.

1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.

2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.

Mmm yeah, you need to pay tax for that. That thing called income tax. read here http://www.mrtaxman.com.au/blog/foreign-currency-trading and here https://money.stackexchange.com/questions/43586/tax-consequences-when-foreign-currency-changes-in-value

[thefaucetrunner]

Good that it lowers the taxes involved, but not good that it's not considered currency and who knows what kind of regulations wait in the wings for a non-currency asset that competes with the government's money monopoly.

[BillCoin]

That's a great news as it also decreases the tax rate for France citizens.
It's weird that we are happy that they now recognize it as a property as all the bitcoin supporters wants their bitcoin to be considered and called a currency other then an asset, but the regulators change our mind with their absolutely ridiculous tax rate

[housebtc]

The problem here is that due to the dual faces of Cryptoasset we are going to see many countries with different definitions of the asset. About the reduction in tax, I don't think there is much to be celebrated here because this seems to be an average tax in most of the countries

[kipozer]

This is very, very good news, probably such decisions are made after Germany decided to use bitcoin quite on legal grounds, I hope this news will respond positively to the price of bitcoin

[yarozaqu]

This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent

it is a good news. I like to hear that. the country should accept bitcoin. no reason to refuse the crypto currency. bitcoin is the future currency.

[carlisle1]

This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent

France is now ruled that cryptocurrency sales are in principle of the category of capital gains of movable property with some exemption. Movable property refers to tangible and intangible assets. France is generally supportive of cryptocurrencies and the country will take a lead  in regulation.

Does it mean we have something to celebrate here?though i was thinking about what if france accept crypto as currency instead of  property?since currency is more functional than a property..but its better that they are recognized because its a positive thing and maybe a start of someting to expect in future

[freedoom]

This is very good news! Crypto currency is distributed to the whole world, which indicates the success of the currency
Soon we will all forget about old currencies and will only use crypto currency)

[mindrust]

this is somewhat a sad thing though. but it is expected since the altcoins are not really currencies despite what their name suggests. so it is only logical to consider them as property, commodity, security,... instead of considering them as a currency.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.

Who cares what they think as long as we don't need to ask their opinion? Person A sells his product to Person B. Person B pays in BTC, Person A gets his money and delivers the product to Person B. As long as they don't touch to government ill money (FIAT), nobody cares what the government thinks.

Nobody would give a damn If they classified BTC as gold v2.0. Maybe a little at first.

Tax-wise, It is positive news though for those who've been thinking to get back in FIAT nightmare.

Meanwhile Bank of France puts this on youtube:

The Banque de France’s view on bitcoin and other crypto-assets

[vlad230]

Mmm yeah, you need to pay tax for that. That thing called income tax. read here http://www.mrtaxman.com.au/blog/foreign-currency-trading and here https://money.stackexchange.com/questions/43586/tax-consequences-when-foreign-currency-changes-in-value

Interesting "land of the free" the United States and Australia are I'm sorry for you guys.

Although, I wasn't saying you need to convert GBP back to EURO to get your profits as you wouldn't need to do that with crypto currency either. You use it to buy things online and if you need to exchange it back to FIAT the exchanges would be taxed and you would pay a commission.

Either way, I see there are some thresholds in place for FIAT exchanges and those should be the same for crypto too.

[habaratbu]

This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent

Great news for those living there,and good news for the people who are using our platform as it is another step for the massive adoption.I do believe that this is much more easier than what we are expected,as long as theres new countries that are adopting cryptocurrencies  there will still be some progress to grow slowly but surely.

[rupesh2]

2 benefit with this order -
1st is now crypto have a legal status there , so no doubt of ban .
2nd is sharp reduction in taxes to be paid on these coins .