French Finance Minister: will be taxed when the cryptocurrency is exchanged for the French currency, and the currency transaction is tax-free.

According to Bloomberg News, French Finance Minister Bruno Le Maire said today that when cryptocurrency is converted into a “traditional” currency, France will tax cryptocurrency gains, but currency transactions are still tax-free. Lemer said: "We believe that once income is converted into traditional currency, it is the right time to assess the tax." He also said that according to the same logic, VAT will only be assessed when using cryptocurrency assets to acquire assets or services.