Pressured by Europe, the French state and taxes have placed cryptoassets in their sights. The tax administration suspects many taxpayers of underdeclaring their assets. A law could change everything.
The European Central Bank (ECB) estimates that some 5 million French people hold cryptoassets and other Bitcoin assets. As part of the fight against public aid fraud and lack of declaration regarding the holding of cryptocurrencies, the Ministry of the Economy is preparing a text of law which will include a whole arsenal of measures, to bring everyone back into line. path.
The government is working on an anti-fraud law, with a part dedicated to cryptocurrencies
It is with our colleagues from Echoes that the Minister of Public Accounts, Thomas Cazenave, launched on Wednesday what, for cryptocurrency enthusiasts, could be compared to a small “earthquake”. The government is in fact working on a law which could be discussed in the coming weeks by deputies and senators.
It could see the light of day during the fall before, one can imagine, the examination of the finance bill for 2025 by Parliament, for application from the next tax return.
Controls linked to the holding of cryptoassets are part of Bercy’s priorities and will, Thomas Cazenave affirms, be integrated into the package of the next anti-fraud law.
150,000 French people would correctly declare their cryptoassets… out of 5 million!
The European Central Bank says that 5 million French people use cryptoassets, a significant number which contrasts with the starving number of actual declarations to the General Directorate of Public Finances (DGFIP): barely 150,000.
Suffice it to say that the gap is quite impressive and that it alone is enough to push the ministry to intervene. Remember that not declaring your cryptocurrencies can be subject to an increase of up to 40% in the event of a tax audit, or even 80% if the tax administration considers that it is your main activity or that you have not made a declaration.
In any case, the Minister of Public Accounts dreams of aligning the powers of the Tax Office on taxation with accounts held abroad, whether “ in terms of recovery time, control or sanctions “. So this is something to keep an eye on.
Source : The echoes
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