Bitcoin, NFT…Which presidential candidates want to regulate cryptos?

Will tax, or not tax? According to CoinGecko, the market capitalization of cryptocurrencies exceeded 3000 billion dollars at the end of 2021. Discover the candidates’ proposals for the booming crypto-asset industry.

In all presidential campaigns, there are subjects that ignite the debate, such as inheritance rights, on which each candidate has something to say. And then there are those topics that nobody talks about, like cryptocurrencies. Nobody, or almost! Because a handful of candidates have put forward proposals to regulate this growing sector.

New tax framework

The first of them is called Eric Zemmour, who recently visited Ledger, heavyweights in the sector, at the invitation of Pascal Gauthier, its CEO. We must support the cryptocurrency ecosystem, a sector of the future, said Eric Zemmour on Twitter. And for this, the candidate of the Reconqute party proposes to exempt from taxes on capital gains the disposals of crypto-assets as soon as at least 50% of this surplus value is reinvested in the capital of a company in the real economy.

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Another avenue put forward by Eric Zemmour: the creation of a tax regime specific to NFTs, these securities of digital property, so that their taxation aligns with that of the underlying asset. In other words, artistic NFTs will be taxed like any other work of art, and immovable NFTs, like any other immovable property. These proposals are not strictly speaking new. They had already been submitted, without success, to the vote of the National Assembly by the deputy Pierre Person during the examination of the 2022 finance bill.

Marine Le Pen’s team, for its part, believes that the sector is conducive to deception, errors and stock market shocks. It therefore proposes to integrate cryptocurrencies into the common diet financial markets, in order to fight more effectively against price manipulation, insider trading or misleading information.

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European regulation

On the left, Anne Hidalgo announces in her Digital Manifesto that she wants to strategically support the development of cryptocurrency, in particular through the creation of financing counters intended for public investors. The PS candidate also calls for the harmonization of national legislation and the adoption of a European regulatory framework as for the management of crypto-currencies in order to weigh against extra-European markets. A vision shared by Valrie Pcresse, who wishes to make the development of this sector a priority, via legislation resulting from a European framework on crypto-assets, reports The world.

Emmanuel Macron, meanwhile, unveiled his program on Thursday, March 17. On this occasion, the outgoing Chairman notably mentioned his desire to build a european metavers to guarantee the cultural and informational independence of France. Asked by BFMCdric O, the Secretary of State for Digital, clarified that Emmanuel Macron did not plan to create a public metaverse, but rather to encourage the development of underlying technologies, such as 3d engines.

The Economic Affairs Committee of the European Parliament has just adopted a draft regulation Market in Crypto Assets (MiCA) to oversee the crypto-asset industry. This text could come into force by 2024.

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A political issue

To date, Jean-Luc Mlenchon has not put any proposals on cryptocurrencies. This is surprising, given its readership, notes Mlodie Ambroise, director of strategy and institutional relations of the Association for the Development of Digital Assets (Adan). The association recently sent candidates 20 proposals to support the crypto-asset industry, most of which remains a dead letter to this day.

However, according to a study (1) produced by KPMG for Adan, 8% of the French would have already invested in digital assets, while they are only 6.7% hold shares directly. Mostly, 18% of the polls consider that the position of the candidates on cryptocurrencies could influence their vote. It would even be a decisive subject for 4% of the French.

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(1) Survey carried out by the IPSOS polling institute between December 9 and 19, 2021, among 2,003 individuals aged over 18, representative sample of the French population.

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Bitcoin, NFT…Which presidential candidates want to regulate cryptos?


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