FRANCE PROPOSING TAX ON UNREALIZED BITCOIN GAINS

France is considering a new tax law that would target unrealized gains from cryptocurrencies like Bitcoin.

This means that if the value of your Bitcoin increases, you could owe taxes on that gain, even if you haven't sold it yet.

The proposal, which is still being debated in the French Senate, would categorize cryptocurrencies like Bitcoin as "non-productive property," similar to dormant real estate and luxury items like yachts. This classification would place them under a proposed "unproductive wealth tax," replacing the current real estate wealth tax.

If passed, this law would be a significant change for cryptocurrency investors in France, who currently only pay taxes on their gains when they sell their digital assets.

The proposal has sparked a lot of discussion, with some arguing that it could discourage investment in cryptocurrencies.