Post
Topic
Board Legal
Re: Buying property with crypto
by
zasad@
on 24/06/2023, 09:20:18 UTC
One Frenchman has already bought a car with bitcoins:
https://news.bitcoin.com/report-french-crypto-trader-jailed-for-18-months-for-buying-a-ferrari-with-bitcoin/
"Report: French Crypto Trader Jailed for 18 Months for Buying a Ferrari With Bitcoin
A French crypto trader, Thomas Clausi.."

In Russia, smart people always try not to be the first in such situations, but learn from the mistakes of others. You need to wait at least 3-5 years until experience in such transactions is formed.

The story happened in Morocco. The buyer probably took advantage of the fact that the young french seller was unaware of the regulations to file a complaint after the btc dropped.
Although at first she obviously accepted.

Virtual currency transactions are strictly forbidden in Morocco, and officially constitute a breach of the country's foreign exchange regulations. Morocco's foreign exchange regulations clearly stipulate that resident Moroccans may only have foreign accounts under certain conditions (i.e., being an exporter of goods or services). Any breach of these rules is punishable by 5 years' imprisonment and a fine of between 500 and 20,000 dirhams.
The key here is knowing the laws and understanding the risks. And what are the risks when buying real estate for bitcoins in France? Will you be sued if the price of bitcoin falls? The price of bitcoin can fall by 10 percent or more per day and can rise.
But won't you have to go to court after that and prove that your transaction was legal?

As I explained above, buying in btc in France is legal (you need to prove the origin of the funds and pay the flat tax). You can buy a property in apples or anything else as long as taxes and notary fees are paid in fiats and the seller agrees.

As far as market fluctuations are concerned, buyer and seller must agree on the price to be paid in btc, regardless of the exchange rate.

If there's a notarized deed of sale and everything is square, then there's no problem. At least to date.
What is Bitcoin in France? Bitcoin is money, is it a commodity or property?
If an apartment is bought for apples, then this is not a purchase of an apartment, but an exchange agreement Smiley