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  • Writer's pictureMichael Bacina

France Frees Profits on Crypto-to-Crypto trading

Updated: May 2

Last week France announced it would not be taxing crypto-to-crypto transactions, which seems a sensible solution to the cost and effort required to go back over the past 10 years of crypto transactions, but also may be a calculated move to bring more crypto business to France.

Tax will be payable on cashing out events only, not trades within crypto pairs.

Australian tax law is that a capital gains tax event occurs when a crypto to crypto pair trade takes place, which is consistent with a barter style tax approach (or arguably a currency approach to crypto).  Down Under, tax calculators like KPMG Australia and Independent Reserve's deployment have made working out the tax position on that platform much simpler, which is another way of solving the same problem, albeit one that makes France est idéale pour les traders cryptographiques (toutes mes excuses pour mon terrible français).

Will Fennell Alan Jessup Greg Valles Joni Pirovich #Blockchain #Cryptocurrencies #Regulation #Taxation


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