Catenaa, Friday, November 07, 2025-France’s National Assembly narrowly approved a controversial proposal to classify cryptocurrency holdings as “unproductive wealth,” expanding the country’s wealth tax to include digital assets for the first time.
The amendment, introduced by centrist lawmaker Jean-Paul Mattei, passed by a 163–150 vote during debates on the 2026 finance bill.
It must still clear the Senate before becoming law.
If enacted, the reform would replace the real estate-focused Impôt sur la Fortune Immobilière with a broader Impôt sur la Fortune Improductive, applying a flat 1% annual levy on net assets above €2 million.
The taxable scope would widen to include crypto, gold, jewelry, art, yachts, and luxury vehicles.
Supporters argue the measure encourages investment in assets that generate economic activity, while critics warn it unfairly targets savers and long-term crypto holders.
The proposal could also tax unrealized crypto gains, raising fears of forced asset sales to meet obligations.
Industry figures, including Ledger co-founder Éric Larchevêque, said the move equates Bitcoin to idle wealth and punishes those using it as a hedge against inflation.
The reform revealed deep divisions in Parliament, uniting Socialists, centrists, and far-right MPs against government opposition. Economists estimate potential revenue between €1 billion and €3 billion
