French Finance Minister Bruno Le Maire noted that his country wants to become the European hub of the crypto-asset ecosystem.
The country’s finance minister said that as France aims to become the world’s leading blockchain hub, crypto tax rules will be reviewed and the existing norms for stocks will not be copied.
French Finance Minister Says Crypto Taxes Will Be Addressed
Speaking to BFM TV, Le Maire expressed concern about crypto’s energy consumption and the potential of blockchain technology to take the role of the euro.
Le Maire also expressed that they want to make France a crypto center:
“We want to structure crypto markets for the European Union and make it the leading economic region in the world.
We want France to be the European hub for the crypto ecosystem”
The European Union has recently approved MiCA legislation.
Recently, crypto companies such as Binance and CryptoCom have registered with French institutions as per the MiCA.
French deputies express at every opportunity that the government does not sufficiently encourage web3 initiatives.
Le Maire also said the following regarding the crypto tax:
“We will meet with our stakeholders to determine whether new practices in tax legislation are necessary.
Direct compliance with the taxation of stocks is not our absolute goal.”
The French Finance Minister also praised Ethereum’s transition to a less energy-using proof-of-stake algorithm.
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