During a breakfast with entrepreneurs, including representatives of Blockchain Partner, the Minister of Economy and Finance Bruno Le Maire revealed his plans for French blockchain and cryptocurrencies. He assured his ” total and determined support “. Among the themes mentioned: the banking difficulties of companies in the sector, the taxation of cryptocurrencies, their accounting treatment and the legal framework of the ICO
” I was a rookie a year ago, but now, I’ve been seized by a sudden passion. It took me a year. Let’s teach this knowledge to our fellow citizen to make France the first place for blockchain & crypto innovation in Europe” said Bruno Le Maire.
While talking about taxations and regulations, Le Maire stated: The proposal to align the taxation of cryptocurrencies with that of precious metals was mentioned, but it is not favorable.
He believes that this move would be risky and prefers to guarantee entrepreneurs and individuals a regime in which they can plan for the longer term. There is also an idea where exchanges operating within the “crypto to crypto” system would be excluded from taxation since there is no fiat involved in the exchange process.
For Bruno Le Maire it is necessary to professionalize the ICOs and their evaluation, whether by independent rating agencies, the AMF label, or other methods, in order to promote the adoption of the general public in a sustainable way and secure.
In terms of the legislative calendar, the next big dates are July and September with the PACTE law and the PLF 2019 [Finance Bill 2019]. The French finance minister wants to discuss everything related to crypto by that time so all possible obstacles can be removed to ensure a fast and progressive development of the French “crypto” ecosystem.