Cryoptocurrency is now movable property in France.

[Chomsy]

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.

Isn't that a good news to those in France for crypto to be considered a property.

[Monkeyseemonkeydo]

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.

But before that law does they have to pay any taxes? Taxation is a pretty fair thing for cryptocurrency but I bet some traders now loosing money

[Drloipro]

Investing in altcoins are profitable and good for long term but there are few things to consider before investing to make sure the coin you're going to choose is unlikely to be delisted in exchanges after few months or years. The coin should be valuable and has uses with features that can help real problem. Usually new investors prefer to hodl the popular ones or belong to top 10 of CMC. I have eth, neo, ltc, monero and ripple in my crypto-portfolio and planning to add additional coins if I have the capital.
I suggest dont rely with our suggestions and do your own research because its important to have your own knowledge and understanding in the particular coin you want to invest in.

[Herlina]

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.

I think the news is not entirely bad because France’s Conseil d’Etat has reduced the tax rate from 45% to 19%

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

Personally I don't think of it as movable property

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.

Yes because you get income and it is taxed

[googs84]

Thats the coolest thing ever happened to any country in the world. God dam they have decreased the charges of tax from ATH 45% to all the way down to 19%. Thats just miracle for the francis people. I mean here is my country who is not even able to decide whether they should be allowing the use of Bitcoin or not and there is france, making it perfectly legal and managed.

Yeah thats the news we should here about the cryto currencies all the time.

[loaddebitcard]

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.

Why not? People are buying cryptocurrency with national fiats so the government loosing something in that business. It should be taxed

[rosezionjohn]

On the good side, it is accepted by the government and not being banned. On the not so good side, it is not considered as a currency which is what digital currencies are meant to be.

[marcripto]

Until recently, cryptocurrencies were simple games and speculations of little value, now for governments become mobile properties. I think it's good news, because it means to recognize their value, and France is working on a regulation of the cryptocurrency sector from what I read

[Lontongmie]

in my country unfortunately cryptocurrency is not regulated because the legislation has not been amended accordingly, except for taxation .. it's awful.

[waorana]

France is one of the big countries that has always been in favor of the cryptocurrency sector, considering them as a mobile property means paying taxes and then legalizing them. I hope that the example of this country will also be taken by many other governments, and a general regulation of the sector will be reached as soon as possible

[Beehives]

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.

That's good thing. That huge tax been trim on crypto. It a good thing on crypto happening around the world.

[billionairebitcoin]

This is huge. Wow. Tres bon haha

[Beehives]

Isn't that a good news to those in France for crypto to be considered a property.

Why not?  Cryopto is sold on fiat and investors gain a fiat. There is no distinction on conventional business.
And 19% tax is fair enough. 

[Beehives]

in my country unfortunately cryptocurrency is not regulated because the legislation has not been amended accordingly, except for taxation .. it's awful.

It's not a good idea to amend the law just for the sake of crypto. It should be add or pass another law just for the taxation of crypto.
I think Executive Order is enough.

[aussiesloth]

Once countries realise they can't ignore crypto, then they will legislate to ensure they get their "cut" of it.  Whether that is capital gains tax (as a tangible asset) or income tax (when seen as a currency), each country will do what they can to ensure they get whatever they can. 

That is the beauty of privacy coins... once a marketplace exists (eg. SAFEX later in the year), then buying untraceable goods and services will allow us to keep our crypto to ourselves.

[senopratama]

kind of funny if responding to the policies that are applied to this country. somehow the way their minds. It is certainly very contrary to what happened in Japan. just look at how the State of the crypto there. where they are very outstanding free and it also helps the Japanese economy being highly life without problems.

[vlad230]

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.

Yes because you get income and it is taxed

What income do you get? You just exchanged your money in a different currency. I'm not saying you convert it back to EURO or even if you do it shouldn't be taxed.

If GBP devalues compared to the EURO do you report the loss anywhere? I don't think you get any compensation from the government when you lose money now, do you?

[VenturaBro]

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

Interesting, why not digital assets like in most countries?

[happyme1818]

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

This is the sign that no one can stop cryptocurrency from booming. It is inevitable and any country that will again cryptocurrency will regret it later. They need to catch up with the technology or else they will lose the chance to be one of the pioneer in the industry.

[Beehives]

On my opinion cryptocurrencies today cannot be considered as currency. We buy/sell this actually using fiat. Taxing it is fair enough. This have no difference on conventional business.
France give a fair tax percentage (19%) to its Citizens.