France proposes to create cryptocurrency of EU

Posted 13 September, 2019

The deputy finance minister of France proposed creating his own cryptocurrency in the European Union and ban the use of digital money from Facebook. He stated this at an informal meeting of ministers of economy and finance in Helsinki. 

According to the news agency, the proposal to create a national cryptocurrency has already been submitted to the Eurogroup meeting and will be considered at the next IMF meeting, which will be held in Washington in October. Earlier, French Minister of Economics and Finance Bruno Le Maire during the opening of the OECD cryptocurrency conference announced that the country will block the development of the Libra project in Europe, as it threatens the “currency sovereignty” of the authorities.

The minister also added that in France, the income from cryptocurrency trading will be taxed only at the stage of entering into fiat currencies. At the same time, transactions between cryptocurrencies will remain tax-free. Moreover, if digital money is used to pay for goods or services, they will be subject to VAT.

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13 September, 2019 15:52

← Libra Association: stablecoin can appear in 2020

The head of cryptocurrency initiative launched by Facebook stated that they will not give up plans to roll out payment service despite al the challenges they are facing. Bertrand Perez, director-general of Libra Association, told French media that the world would see the planned stable coin in H2 2020.

Libra Association: stablecoin can appear in 2020

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13 September, 2019 12:53

CME targets expansion of bitcoin futures monthly limits →

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