05/11/2025
France moves to tax crypto as ‘unproductive wealth’
Critics warn that France’s revised wealth tax may drive crypto investors to sell off holdings, labelling the policy an mistake.
lawmakers approved a to expand the tax to cover ‘unproductive assets’ like luxury goods, , and digital currencies. The amendment by centrist MP Jean-Paul Matteï narrowly passed the National Assembly, 163 to 150, with support from socialist and far-right members.
The proposal will now move to the Senate for further debate as part of the 2026 national process.
Under the plan, individuals holding ‘unproductive wealth’ valued above €2 million would face a new 1% flat . The measure replaces the existing progressive real estate tax, which currently charges up to 1.5% on assets exceeding €10 million.
Matteï argued that the change would promote ‘productive ’ and address inconsistencies in the current system, which excludes assets like gold, classic cars, and .
The inclusion of digital assets has drawn criticism from the local crypto community. Éric Larchevêque, co-founder of crypto maker Ledger, warned that the move sends a negative message, portraying crypto as economically ‘unproductive.’
He cautioned that investors could be forced to liquidate their holdings to pay the tax, and expressed concern that the threshold might later be reduced.
Critics warn that France’s revised wealth tax may drive crypto investors to sell off holdings, labelling the policy an ideological mistake.
