France: Bitcoin Revenue Must be Declared
France has mandates its citizens to declare all revenue from all transactions involving Bitcoin. The Ministry of Economy and Finance of France has decided that revenue from Bitcoin transactions are subject to taxation even though the government does not recognize it as a digital currency. Of course, this stance has generated much controversy given the status of Bitcoin in the country. Nevertheless, according to French law, the new requirements will be lax for the underaged and those who only earn small amounts at irregular intervals using Bitcoin. “All taxpayers are required to declare all....
Related News
Bitcoin France has joined the Bitcoin Foundation as its newest international chapter. The Bitcoin Foundation also has chapters in Australia, Bangladesh, Canada, Denmark, Germany, Mexico, The Netherlands, Romania, and Slovenia. The Association Bitcoin France is headed by Philippe Rodriguez, the President of Bitcoin France. France has been one of Europe's Bitcoin hubs for years now. Paris is even home to a Bitcoin embassy and Bitcoin startup incubator known as la Maison du BTC. Executive Director of the Bitcoin Foundation, Jon Matonis, had this to say about Bitcoin and France: France is a....
Yesterday France had a senate hearing about digital currencies like Bitcoin. People in the Bitcoin community followed the live stream with anxiety, looking for any bearish or bullish news. It is confirmed that the outcome of the French senate hearing is positive for Bitcoin that might lead to a shift in France towards a more Bitcoin loving nation like their neighbour Germany. The reddit user mmitech posted notes during the hearing. He summarized the following: It is not clear what France will do next or how to regulate Bitcoin but they want to catch up and making it illegal is not an....
Despite its relatively low adoption in the US, XRP has continued to enjoy widespread adoption overseas in countries like Japan, Singapore, and others looking to incorporate cryptocurrencies into their economy. This time, France is rumored to be the latest country to have taken an interest in the token, per rumored reports. France Could Adopt XRP […]
The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing. France Tightens Crypto Surveillance France’s Council of Ministers endorsed an ordinance containing a series of measures to tighten the surveillance of cryptocurrency activities last week. The ordinance, which will enter into force in....
What do Belgium, France, Italy, Greece and several other European countries have in common, other than proximity? All are plagued with governments that seek out and punish those who make large purchases in cash. This forces people to either use banks against their preference, or live with the risk of punishment. The states in both France and Belgium each forbid cash purchases in excess of €3000 (or US$3700). In Italy, the declared cash cap is even less—only €999 (US$1200). The Italian state even goes so far as to forbid people from paying their rent in cash altogether. If all of this....