During a breakfast with entrepreneurs, including representatives of Blockchain Partner, Economy Minister Bruno Le Maire announced his plans for the French crypto industry, which he assured of his “total and strong support.”
Bruno Le Maire called for “teaching fellow citizens how to make France a leader in blockchain and active crypto innovation in Europe.”
During a discussion with industry insiders, the Minister of Economy voiced his views on key issues:
Account rights and access to the bank
Bruno Le Maire shares the opinion of the community: the situation is serious and alarming for companies in the sector, because this is obviously the first element competitiveness for France. The state needs to preserve the value creators, and project promoters are better off taking a well-known and strong French bank rather than risking their capital in foreign accounts or with foreign banks. Thus, the minister commits to supporting crypto companies with FBF [Fédération Bancaire Française] in particular.
Taxation
PFU [Single Lump Sum] taxation. on the basis of one-time fixed amounts is the preferred option. In addition, the minister does not exclude the idea of exempting individual crypto-exchanges from taxation, but wants to deepen discussions on issues of tax competitiveness.
The Minister of Finance forwarded the issues of accounting procedures to the relevant department to develop principles regarding cryptocurrencies.
ICO
Bruno Le Maire considers it necessary to professionally evaluate ICOs by independent rating agencies. For this purpose, a working group was formed at the beginning of the year. group on regulation of cryptocurrencies. This group is busy developing regulatory requirements that should help bring France to a leading position in the world in organizing ICOs and developing blockchain projects. The working group is headed by Jean-Pierre Landaud, who previously served as deputy head of the country's central bank.
Calendar
The next deadlines, in terms of the legislative calendar, are July and September with the PACTE and PLF 2019 laws. [Financial bill 2019]. The Minister of Economy and Finance wants to discuss the maximum number of issues in order to remove most of the obstacles to the development of the French crypto-industry ecosystem and introduce the necessary provisions into legislation...
A year ago, Le Maire had a negative attitude towards the crypto market, but already at the G20 summit he demonstrated his radically changed opinion and noted the important role that blockchain technologies and cryptocurrency play in the global economy.
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