French Politician Proposes Simplified Taxation Regime for Cryptocurrencies

French Politician Proposes Simplified Taxation Regime for Cryptocurrencies

French politician Pierre Person has laid out his plan for simplifying cryptocurrency taxes in France.Paying for goods or services with crypto usually constitutes a tax obligation since digital assets have to be converted into fiat currencies. Person, however, wants to put an end to tax compliance headaches.Given that companies like PayPal and Visa are actively becoming part of the crypto economy, the MP has proposed not taxing crypto payments if their sum does not exceed 3,000 euros. This means that people will be able to spend digital assets with the help of popular crypto cards or other services without creating a taxable event.

Visa, Mastercard, Paypal … Les paiements en crypto-actifs se généralisent progressivement.Je souhaite que dorénavant, en deça de 3000€, les contribuables n’aient plus à se soucier de la problématique fiscale. pic.twitter.com/BlvNxbjK3T— Pierre PERSON (@Pierr_Person) September 30, 2021

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