The French Senate passed a preliminary vote to tax unrealized gains on Bitcoin! This plan has also been strongly supported by the French government.
That is to say, even if you hold Bitcoin and don't sell it, you still have to pay taxes. France's current tax rate on Bitcoin gains is 30%. Now it is said that if the unrealized gains of Bitcoin exceed 800,000 euros, it will trigger taxation.
It's fatal for early investors in BTC.
If you bought 10 Bitcoins in 2017, survived the ups and downs, and now have a net worth of $1 million, you need to pay hundreds of thousands of dollars in taxes?
So, one option is to reluctantly give up. The problem is that you still think that holding BTC could have continued to get several times the return.
So is it okay to flee France? Politicians have already blocked the door one step ahead. The tax law is aimed at the rich who plan to leave France.
European countries really don't encourage being rich.
