French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent.

Issuers will be expected to give full disclosure to the AMF, allowing buyers to make informed decisions about the ICO in question. The French regulator has previously raised concern over the lack of clear regulation on token sales “as an inherent risk factor of ICOs,” heightening the possibility of loss, money laundering and terrorist financing.

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