French Lawmakers Call For Cryptocurrency Regulations in the EU Countries
It has been already 10 years since the first cryptocurrency was developed by Satoshi Nakamoto, however the question of its regulation is still in the air. Even though Malta, Cyprus has adopted the law relating to the crypto, some countries like France, Spain have not touched this question yet. Not till last week. French Finance Minister Bruno Le Maire calls for member-states of the European Union to adopt their own rules and regulations about crypto. The French parliament approved a law concerning financial sector of the country. It included the rules aimed to tax the profits of cryptocurrency issuers and traders by giving them some official recognition. Bruno Le Maire commented on the situation on the latest event on the blockchain event in Paris:
“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience. Our model is the right one.”
Such a document will be the first one adopted by a major country. The certificate being an official recognition will oblige issuers, traders, custodians and investors to pay taxes on profits. The lawmakers of France strive for establishing a market in Paris where cryptocurrency companies raise their capital, while France takes a small piece of it in the form of tax. Such certificate protects investors from possible frauds, but not from their losses. We want to remind you: Subscribe to The Coin Shark news in Facebook: