The French government announced plans to reduce cryptocurrency tax 6% next year, adopting the budget amendment.
The amendment to the budget of 2019, which reduces the tax on profits received from the sale of Bitcoins, was adopted by the Finance Commission of the lower house of the French Parliament.
The tax cut will reduce the rate on capital gains when trading Bitcoins from 36.2% to 30%, equivalent to a tax on capital that is not associated with real estate.
According to the publication Reuters, the final decision will rest with the vote in the upper house of Parliament, in order for the amendment has gained legislative form. In case of approval of its representatives, the new tax rate will take effect from January 2019.
Despite the recent problems with fraud with Bitcoin, which many French citizens lost millions of euros, the French government intends to make efforts for a wider adoption of cryptocurrencies. Among aimed at this activities we can mention the decision to develop rules regarding the initial proposals of tokens by the ICO, as well as an appropriate legal regulatory framework for cryptocurrencies.
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