Conseil d’État – The French Council of State, on 26th April 2018 has declared that the returns from crypto-trading should be set on movable property status. The decision was made to change the classification based on taxation of trades that are connected with cryptocurrencies which is why the tax reduction is taking place.
Since 2014, the profits from cryptocurrency is being taxed under the category of industrial and commercial profits [BIC] which is around 45%. The non-regular ones are treated under non-commercial profits [BNC].
There are a some exception for gains that are generated through coin mining are directed to the original tax of 45%. The new rate is designed for investment and crypto-trading.
The Finance Minister of France, Bruno Le Maire was one of the ministers who put cryptocurrencies to be on the agenda at the Group of 20 [G20]. Bruno Le Maire is progressively accepting bitcoin and other cryptocurrencies. He believes that France’s leadership position for FinTech will continue with the use of the new digital currency. Standing on the bullish ground, he wants to create an environment in France which promotes the improvement, developing of blockchain tech.
In March 2018, The French Minister of Economy had created a special task force to examine regulation on cryptocurrency based trade. The government had proposed a ban on investment companies to trade in cryptocurrency until the new regulations have been implemented.
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The excellent run of the fifth largest cryptocurrency EOS continues on the weekend even stronger as it rocks the double digit gains of 24.39 percent against the US Dollar. On a 7-days basis the only runner that can get even close to EOS is TRON [TRX] with 64.18% upward movement.
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Its value run over the weekend brought the pair EOS/USD above its previous all-time high of $18.50 as it is changing hands at $22.66 leading the BTC market with 19.31 with a market capitalization of $18.6 bln. The token’s market cap has tripled in April, rising from $4 billion on April 1, 2018, to $12 billion on April 27, 2018.
It has been a pivotal month for the crypto that seeks to decentralize exchanges and make cryptocurrency trading user-friendly. Accordingly, more events will be coming that could hoist in the same way prices as they are doing right now. For EOS, on the calendar these events are marked down as busy days – according to coinmarketcal.com
The series of good news for EOS began on April 6, 2018, when EOS.io (Block.one) announced a strategic partnership with Michael Cao and Winnie Liu for a $200 million fund. The EOS Global would focus on expanding EOS’ presence in Asia via the EOS.io platform.
On the same track, another $100 mil join venture followed-up with FinLab AG. If you fuse solid projects and confidence boosting crypto predictions, an overtake of cemented positions like bitcoin Cash might not take much longer.
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