Cryptocurrency traders in France will be relieved of heavy tax as the government is taken steps that will induce a lower tax rate. The French Council of State announced on Thursday that profits arising from cryptocurrency sales should be considered as capital gains of movable property. a decision that will see the current tax rate drop significantly.
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https://news.bitzamp.com/france-to-introduce-lower-tax-rates-for-cryptocurrency-traders/Ok. At least France is really looking at crypto and not totally banning it as what it was pictured specially during before the G20 summit last month. I thought that France and Germany are against crypto, maybe they have soften their stance so its all good. I don't know but I haven't paid any taxes as well regarding my crypto earnings maybe our government will in the next years or so but I don't have issues with that.
But let us not expect that this good news will have an instant effect in the market.
I observe that positive news don't have an immediate impact on the market. This is a good news and gradually, more countries would come up with softer acceptance model for cryptocurrency.
Of course this kind of news has little impact unless France say's that they are adopting bitcoin just like Japan did last year. But still this is a welcoming news for the crypto enthusiast.