France targets crypto wealth with 1 percent tax on assets over €2M
TLDR
- France applies a 1% tax on net assets above €2 million, including crypto.
- Unrealized crypto gains now count toward taxable wealth in France.
- All foreign and domestic crypto wallets must be reported by residents.
- New law aims to tax idle assets like crypto, yachts, and unused homes.
France is changing how it taxes wealth by including large cryptocurrency holdings under a new rule targeting what it calls “unproductive wealth.” A new law passed by the French government now applies a 1% tax to net assets over €2 million, and this includes digital assets like crypto—even if they haven’t been sold. Authorities say the move aims to encourage more productive use of wealth and close tax gaps previously used by…
