France Could Become The European Hub Of The Crypto-Asset Ecosystem Of The Future

France will review crypto tax regulations next year and is looking to become a leading blockchain hub in the world. And will not seek to repeat existing standards for stocks.

Finance Minister Bruno Le Maire is concerned about the energy consumption of cryptocurrencies and about the potential of blockchain technology to usurp the role of France’s fiat currency, the euro.

However, the EU has just agreed to a landmark Crypto Asset Markets (MiCA) law that will allow crypto companies to operate across the bloc if they meet stability and security standards family protection invest.

Therefore, France has the ambition to make the European Union the leading economic region in the world in terms of the structure and organization of the cryptocurrency market.

Le Maire said “France want to use 2023 to more deeply reflect on our reflection with stakeholders to determine if new adjustments to the tax law are needed,” and “A simple association with taxing stocks is not necessarily a desirable goal.”

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