France Propose Tax on unrealized Crypto Gains
French lawmakers are debating a tax on unrealized capital gains for cryptocurrencies, changing how financial assets like Bitcoin are taxed
French lawmakers are debating a tax on unrealized capital gains for cryptocurrencies, changing how financial assets like Bitcoin are taxed.
The plan would classify luxury goods like yachts and dormant real estate as “non-productive property,” along with cryptocurrencies like Bitcoin. The current real estate wealth tax would be replaced by a proposed “unproductive wealth tax” that would apply to them.
The proposal, which was made during the French Senate’s discussion of the 2025 budget, would tax increases in the value of cryptocurrencies even if the assets haven’t been sold. This is a change from the existing system, which levies taxes on cryptocurrencies only when gains are made, like when assets are sold.
The proposal was put to a preliminary vote during the Senate debate. Interestingly, only senators who supported the measure were present, so the vote does not yet represent a final judgment or wider agreement.
The French National Assembly would have to approve the proposal before it could become law. Unrealized gains are the higher value of an asset that hasn’t been sold, for those not familiar with the term. For example, if the value of Bitcoin increases after purchase but is not sold, the owner is not currently required to pay taxes on the increase.
The proposed tax would alter this by imposing levies on that paper gain even in cases where the asset isn’t turned into cash, . This discussion coincides with a global trend in which governments debate how to tax and regulate cryptocurrencies.
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