In France, cryptocurrency traders were exempted from taxes. Until withdrawal to fiat

French authorities intend to levy income taxes on converting cryptocurrencies to fiat. Cryptocurrency trading does not require paying taxes without fiat transactions, Bloomberg reports citing Finance Minister Bruno Le Mer.

The official added that when buying goods and services for cryptocurrencies, VAT will be charged.

A similar tax policy has been approved in Portugal, where withdrawal to fiat does not require VAT.

Recall, on September 12, Le Mayor said that France would not allow the development of Libra in Europe due to systemic risks.

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