France Votes To Tax Crypto Gains at Much Higher Rate than present because It’s “Unproductive Wealth”.

According to the proposal, the this proposal aims to encourage investment in assets that directly contribute to economic activity while discouraging the accumulation of wealth in assets deemed “unproductive.”

“Gold, coins, classic cars, yachts, and works of art are excluded from the current tax base, yet they represent forms of wealth that do not create JOBS or INNOVATION. This reform corrects that inconsistency.”

Under present tax law, individuals pay a 30% flat tax on realized crypto capital gains, meaning tax is only due when assets are sold for euros or goods. Crypto-to-crypto trades and #HODLing are not taxed.

Some of the governments are building their $BTC reserves and then you have some countries who are just behind crypto traders.