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2 clusters · 2 sources · 11 days · First seen · Last updated

French cryptocurrency and stablecoin regulation

Overview

France is pursuing divergent regulatory paths regarding digital assets. In the legislative sphere, the National Assembly has moved toward more stringent fiscal policies by proposing that the exchange of cryptocurrencies for stablecoins be treated as a taxable event. This would include a proposed tax rate of 31.4% on Bitcoin-to-stablecoin swaps and the rejection of amendments allowing for long-term capital loss carryovers.

Simultaneously, a group of French financial authorities—including the Bank of France and the AMF—has proposed a more permissive regulatory framework for stablecoin rewards. This proposal seeks to allow regulated third-party rewards to bolster the competitiveness of euro-denominated stablecoins against dollar-backed alternatives. This stance contrasts with the European Central Bank’s preference for a broader ban on such mechanisms to protect traditional bank deposits.

Entities

France · Bank of France · French National Assembly · Autorité des marchés financiers

Timeline

  1. [BUSINESS] 2 sources
    France proposes regulated stablecoin rewards to boost euro competitiveness

    French financial authorities urge the EU to allow regulated third-party stablecoin rewards to help euro-denominated tokens compete with dollar-backed assets, opposing the ECB's push for a total ban.

  2. [BUSINESS] 7 sources
    France proposes new taxes on cryptocurrency-to-stablecoin exchanges

    France is considering major tax changes for crypto investors, including taxing conversions between Bitcoin and stablecoins and rejecting the carryover of capital losses.

Sources

europesays.com · news.bitcoin.com