French Finance Minister Bruno Le Maire told local media in an interview published on Monday that France, which aims to become the world’s leading blockchain hub, is set to launch next year. cryptocurrency He said he would review tax rules and would not try to simply copy existing norms for stocks into them.
Le Maire told BFM TV that he is concerned about the energy consumption of crypto and the potential for blockchain technology to usurp the role of France’s fiat currency, the euro.
“We Want France to Be the Center of Europe’s Cryptocurrency Ecosystem”
Le Maire continued his statements on the subject as follows:
“We want to make the European Union the world’s leading economic region for structuring and regulating the cryptocurrency market.
We want France to be the European hub of the cryptoasset ecosystem.”
The EU has just passed the landmark Crypto Asset Markets law (MiCA), which allows crypto companies to operate union-wide if they meet investor protection and stability norms.
A number of companies such as Binance and crypto.com have registered with French authorities in the past months anticipating some of the purposes of MiCA, but French lawmakers protested the government’s failure to do enough to encourage Web3 entrepreneurs.
“We Will Not Apply Equity Taxation Rules Directly to Crypto Assets”
Le Maire detailed his speech as follows:
“We want to use 2023 to deepen our reflection with the parties to determine whether new adjustments to tax legislation are necessary.
A direct parallel with the taxation of stocks is not a desirable goal.”
Le Maire Talks About Possibility of Paying Taxes with Bitcoin in France
Le Maire also said that he is working on a report on the environmental impact of crypto. Ethereum He praised the blockchain’s transition to a proof-of-stake consensus mechanism that uses much less energy.
However, Le Maire Bitcoin (BTC) It doesn’t want to see big currencies like the government take over the dominance of the currency, and it won’t allow people to pay taxes using crypto, as suggested in Colorado.
The French politician ended his speech on cryptocurrencies as follows:
“The dream of a stateless, central bank, borderless and moneyless world would endanger our sovereignty, and especially the most vulnerable people among us.
Our currency is the Euro and having a single currency to pay taxes is a condition of our union.”
*Not investment advice
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