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No Tax on Crypto Trades Says French Minister

French economy minister Bruno Le Maire has stated that crypto-to-crypto trades will be tax-exempt, according to a report by Bloomberg. Instead, France will only tax cryptocurrency gains when they are converted into “traditional” currencies.

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“We believe that the moment the gains are converted into traditional money is the right time to assess tax,” Le Maire said. Le Maire also added that the country’s value-added tax (VAT) will only be assessed when a cryptocurrency is to purchase a good or service.

France’s decision comes after reports that Portugal’s tax authority determined cryptocurrency trading and payments in the nation are tax-free.

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin58,837 0.46 % 4.08 % 0.06 %
Ethereum2,090.5 0.47 % 4.63 % 6.09 %
Binance Coin433.75 0.10 % 9.50 % 29.15 %
Tether1.000 0.12 % 0.09 % 0.00 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.220 0.30 % 2.43 % 3.21 %
XRP1.020 0.92 % 8.43 % 79.60 %
Uniswap30.45 0.07 % 4.00 % 6.06 %
Litecoin228.22 0.04 % 4.22 % 12.57 %
Chainlink32.67 0.19 % 3.47 % 8.50 %