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Bitcoin Regulation and Bitcoin Tax in France

France seems more concerned with tax evasion than with money laundering. It seems a ban is not envisioned but France and Germany are making a joint proposal for a regulatory framework to the 20G summit on cryptocurrencies.

Contrary to alarmist media reports, the French finance minister, Bruno Le Maire is only interested in a legal framework to assist in overcoming tax evasion and funding for terrorists. This would be more a Know Your Customer (KTC) policy instituted and reporting of transactions over a set amount. No effort to control or ban crypto currencies is involved. However the Minister, along with the German counterpart stressed a united approach is needed with a borderless currency. Joachim Wuermeling, a board member at Bundesbank stated that, "Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation because the regulatory power of nation-states is obviously limited."

Anyone in France can use the international popular coin exchanges and there are European ones such as in Switzerland and Sweden. All offer Bitcoin and many of the altcoins and all accept the usual payment methods. Some do exchange as well as buy/sell and fees are pretty standard.

There are two Bitcoin ATMs in France and these can be located using coinatmradar.com.

This article is for information purposes only and is not to be construed as financial information for any purpose such as investment or speculation and it is the responsibility of the reader to perform proper due diligence before acting upon any of the information provided. We recommend that you consult with a licensed, qualified investment advisor before making any investment decisions.