Cryoptocurrency is now movable property in France.

[mast3rm1nd]

something in the article caught my attention: "Also in March, France’s financial market regulator was reported to be looking into legislation that would encourage the development of Initial Coin Offerings (ICO)." I think it's a good idea to regulate ICOs as a measure to counter scammers and such.

[Beehives]

something in the article caught my attention: "Also in March, France’s financial market regulator was reported to be looking into legislation that would encourage the development of Initial Coin Offerings (ICO)." I think it's a good idea to regulate ICOs as a measure to counter scammers and such.

Crytocurrency in Japan is already widely accepted. Now France is making move on the improvement of Crypto. That's really good news that they want the ICO to be improved.

[linkHA]

It is hard to say that cryptocurrency can be a real currency.
Because the liquidity of these tokens is very poor, most of the time only the value of speculation.

[Fedoracoins]

That's not good news. I think one of the main advantages of cryptocurrency is anonymity. Although legalization has its advantages.

[cryptorTUX]

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.

Why different story with bitcoin? As I am aware of even people are using it to trade and earn money in the process since in the reality price is volatile. Yes you can find and buy real useful things with it but on overall basis even if you buy some stuff with it, the merchant, the seller will most likely go and transfer to fiat. Fiat is safer in terms that you still need it to pay off your basic needs and because most likely you have to pay somebody else in the process of selling. I still think that bitcoin is more like an asset, for instance when we are going into the bull run, when FOMO kicks in, you can clearly see that there are many more transactions on the network, at least this shows you for what is it being used, to buy altcoins and gamble there.

[blargh222]

can someone please explain in simple terms what does this mean for the crypto community?

[KryptoKai]

This could be good for tax purposes as capital gains tax is better than income tax, but to not be recognised as a currency could be a problem for mass adoption. It needs to be used to purchase items so without the right framework it will be difficult to implement crypto in the economy

[Beehives]

This could be good for tax purposes as capital gains tax is better than income tax, but to not be recognised as a currency could be a problem for mass adoption. It needs to be used to purchase items so without the right framework it will be difficult to implement crypto in the economy

I think is not yet a concern. For example gold can be a currency and a property.  The purchase power of crypto is possible.

[[ProTrader]]

It is a good new to all cryptocurrency enthusiast. This news will make cryto great again. I am expecting a bull run after the release of the news. The clock is ticking before another all time high in coinmarketcap strikes again.

[Beehives]

It is a good new to all cryptocurrency enthusiast. This news will make cryto great again. I am expecting a bull run after the release of the news. The clock is ticking before another all time high in coinmarketcap strikes again.

Somehow this news can contributes. We will expect remarkable rise of price in the next few months.

[Nimbusrf]

I am glad that France supports cryptocurrency and tries to legalize it.

[styca]

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

I wonder if this decision to lower the tax rate has been made to encourage more people to declare their crypto gains. Probably a lot of people didn't bother to declare when they would have to pay 45%, but are now more likely to if they are only going to pay 19%. Or perhaps I'm just being cynical.

[sehoon]

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

Well, I hope that they do the same thing in other countries as well. This will become a good news for people who do cryptocurrency related stuff in France. But even though this is possible in France, this thing will be hard in countries like Russia and China. As long as the government wants to regulate bitcoin, this can still become a hard thing to do.

[Tylev]

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.

While the definition of the crypto currency in France as movable property is also not bad. The main thing is that crypto-alyuta is recognized as a participant in the trade turnover. In the future, the status of the crypto currency can be changed and refined. Moreover, in future, the issues of circulation of money in the countries of the European Union should have a unified approach, and in Germany, for example, crypto currency is recognized as a legal tender.

[Siren]

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

Don't bother guys,this only france and not the whole world,france only represents small margin of investos so theres nothing to be alarmed..and besides if they consider bitcoin is a property,this only mean one thing the chance of bitcoin in france has a big future to have a huge value,since properties increases value as time passed by and with bitcoin as property then this can be true

[kololo]

Glad to hear the news from France.  Wish to see more and more counties recognize crypto is a propety. And with that happen, I think will let more people to join the market.

[Haunebu]

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.

I agree with you here. 19% tax rate still seems crazy high and 45% seems insane. I never knew that they charged such high tax rates on cryptocurrencies before. I am one of those people who doesn't shy away when it comes to paying taxes on a regular basis, but these rates are absolutely insane and something that would make me ponder whether I should pay taxes or not. Cryptocurrencies and FIAT are completely different in this aspect and I can completely why some people would not wish to pay their taxes thanks to the anonymity aspect of crypto. 6% seems way better in this aspect.

[TastyChillySauce00]

This could be good for tax purposes as capital gains tax is better than income tax, but to not be recognised as a currency could be a problem for mass adoption. It needs to be used to purchase items so without the right framework it will be difficult to implement crypto in the economy

The thing is that, so many people out there still consider bitcoin and other cryptocurrencies as a commodities instead of real currency, they think that it's like you are owning gold, and it's worth as expensive as gold.
You can see that the adoption is still relatively low because small amount of cryptocurrencies users using it for paying daily expenses, instead, they using it for investment.

[Beehives]

The thing is that, so many people out there still consider bitcoin and other cryptocurrencies as a commodities instead of real currency, they think that it's like you are owning gold, and it's worth as expensive as gold.
You can see that the adoption is still relatively low because small amount of cryptocurrencies users using it for paying daily expenses, instead, they using it for investment.

We cannot blame those uses Crypto as a daily expenses. It could be that's the only source of income they have.  All of us here adopt this thing because of money. Whatever purpose they use it that their rights.

[Beehives]

Seems there is a domino effect. After Japan accept BTC as payment for Cars then USA and France make a move to credit the BTC or Crypto as a whole.