France Crypto Tax: Tiered Levy on Holdings Wey Pass €2M
France lower house don approve one big law wey go tax crypto holdings based on their value. If crypto portfolio pass €2 million, dem go charge 1% per year, and if e pass €10 million, e go be 1.5%. Dem don classify digital assets as unproductive wealth, like gold and luxury things. The tax na to catch crypto wey no sold, to make investors put money for better things like rental properties, wey no dey get tax. MP Jean-Paul Mattei propose am, and dem pass am with 163–150 votes. No special treatment for founders or business incentive tokens. Critics talk say e fit make people move their money comot and punish people wey de build the crypto ecosystem. Traders make dem prepare for new rules, dey record every cost and valuation well. The bill go next go Senate, and dem dey expect final pass by December 31, 2025. Market people need watch out for how dem go carry am out to sabi future report rules and how e go affect liquidity.
Bearish
Di France crypto tax dey bring yearly tax for big crypto portfolios, e dey increase holding cost. Because dem dey expect the tax, some big investors fit dey sell their positions sharply, which fit cause selling pressure. Di absence of waivers go make capital flight risk high, fit reduce market liquidity. For di long run, better tax rules fit stabilize di market, but di added tax go fit reduce demand and price growth, making di whole effect bearish for di crypto wey dem affect.