The French parliament, through the Pact Act for ICO and digital asset service providers, plans to exempt cryptocurrency transactions this year.

French Finance Minister Bruno Le Maire said at the blockchain week in Paris that the development of the blockchain ecosystem is a top priority for the government. Recently, the Parliament passed the Pact Act as an important measure to promote the development of the country's blockchain industry. The bill creates a new legal framework for ICOs and digital asset service providers, as well as an audit and tax framework that adapts to the characteristics of cryptographic assets. For tax incentives, Maire said that the 2019 fiscal bill has simplified and reduced taxes applicable to retail investors selling crypto assets: we replaced monthly filings with annual filings, reducing capital gains tax from 36.2%. 30%, while currency transactions will be tax-free. But buying in a professional identity – resale of encrypted assets is taxable. In addition, it has been determined that more than 200 blockchain projects will be developed in France, and in the next five years, France will invest 4.5 billion euros in breakthrough innovations, including blockchain technology.