French Politicians Declare War on Crypto Wealth – Now With Extra Nuts and Bolts! 🥐💸

by

Breaking news from France, folks! The smart folks in the French Assembly just did what they do best: turn the tax screw tighter – this time on “unproductive wealth.” Think gold, yachts, and now, digital magic-yeah, crypto! Because what’s more fun than taxing people for holding shiny objects or virtual coins? Absolutely nothing, say the regulators!

Centrist MP Jean-Paul Matteï, the hero with a pencil, trotted out this brilliant idea on October 22, and the beloved National Assembly-yes, the same folks who brought you the French fries and the Eiffel Tower-gave it a thumbs-up, 163-150! It was a close call, folks-closer than your grandma’s bingo night. Now, of course, it’s gotta go through the usual hoops: Senate, budget, more hoop-jumping, and maybe a little French wine. 🍷

Matteï, with a twinkle of economic genius, declared that the current “wealth tax” is so out of date it’s basically a relic-a dusty old thing that ignores precious objects like gold, art, and…yachts. Because why tax the stuff that actually makes money, right? Instead, let’s tax the stuff that just sits there looking pretty. Think of it as the French version of a yard sale-except you pay for the privilege of owning it!

The “Unproductive” List Gets a Makeover-Including Crypto! 🎩✨

The new law aims to slap a 1% tax on assets over 2 million euros (roughly $2.3 million)-hello, bureaucracy! Only for the very rich, of course, because if your assets are below that, you can keep your secret stash of vintage cars and your secret crypto hideouts. For now.

And guess what? Digital assets are officially part of the “Unproductive Club.” Yes, your Bitcoin, Ethereum, and any digital doodads now qualify for the same tax treatment as your French chateau-or worse, your collectible spoons. Oh, joy! 🚀

The hilarity rises when crypto advocates-notably Éric Larchevêque from Ledger-declare that this law punishes savers and believers in Bitcoin and gold. His words? Classic. He says the law “punishes all savers who wish to financially anchor themselves”-basically, the French are telling you, “No shelter for your shiny digital and metallic treasures.” Not to mention, the threshold might get lower, so your crypto piggy bank could be hit sooner rather than later. The good news? They’re just talking about “plans,” but who’s counting? (Hint: probably not your wallet).

So, stay tuned, dear crypto lovers! France might just turn into the world’s biggest game of “Who Can Lose the Most Wealth First.” Or maybe just the world’s most fashionably taxed country. Either way-bon voyage to your digital empire! 🎭💰

Read More

2025-11-03 09:13