Emerging technology that promises to revolutionize the economy and trade, blockchain must above all benefit from a regulatory and fiscal framework, clear and readable. A condition recalled Wednesday, October 10, 2018 at the 1st edition of Blockchain Day held in Paris.
The blockchain ? A way to " revive France in the economic race ", according to Pierre Person, deputy of the 6th district of Paris and rapporteur of the mission of information on virtual currencies.
At the opening of the 1st edition of Blockchain Day organized at the Palais Brongniart in Paris on Wednesday, October 10, 2018, the elected LREM recognized that the blockchain , this technology of storage and transmission of information considered promising for its high level of transparency and transparency. security, would " structure the economy of tomorrow ".
"It will restore sovereignty and power to the individual, now in the hands of third parties", he insisted, third parties who are, today, essentially banks and public authorities.
If many countries are interested in the blockchain, France must, according to the elected, have " a reliable and readable tax and legal system " to allow the emergence of nuggets, attract foreign investors and limit the expatriation of companies specialized French companies.
Does an opinion seem to be shared beyond French borders? " Today, we need rules because transparency must be ensured for companies, customers and investors ", for example, called Chern Yung, development and growth hacking specialist for Huobi Global, a cryptographic trading platform .
A stakes of stability also for the technology itself. The recent excessive speculation around technology Bitcoin reflects the requirement to provide a more controlled environment for customers and investors, " the cryptomonnaies are increasingly volatile ecosystem. Blockchain is not helped by the bubbles and the instabilities, "explains Guillaume Burkel, CMO Archos
To read also: Cryptocurrencies and ICO: the new financing of companies?
A legal and fiscal framework for cryptocurrencies
The French ecosystem is starting to see the lines move. Whether it is the political or the economic world, work on the subject is progressing. Two parliamentary missions are at work on blockchain topics and cryptocurrencies.
And three reports were presented this year or soon.The cryptocurrency and ICO market is not forgotten either. To limit as much as possible the emission of fraudulent digital tokens, France has decided to formulate a legal framework for the blockchain . Until now, the absence of a framework prevented the legal qualification of issued tokens and made the investments made more vague and risky.
Through the adoption of the Pact Act , on Tuesday, October 9, 2018, the legislator has validated the creation of an optional visa , issued by the Financial Markets Authority (AMF) to all players who wish to issue tokens ( or tokens) on the French market.
The goal is to better protect customers but also to keep and attract investors who use this technology.
This white list is subject to several criteria, such as being a legal entity registered in France, complying with an obligation of transparency or not issuing a token that has already been regulated through a capital or debt instrument, for example .
In the same way, the banks, hitherto reluctant, will be obliged to open an account to the holders of projects having obtained this visa.
On the other hand, cryptocurrencies will benefit from a flat-rate taxation . If Pierre Person has ensured that the passage from one cryptoactif to another cryptoactif will not be taxed, the event giving rise to the tax on the realized gains will occur at the time of its transformation into fiduciary money, that is to say during conversion into euros or dollars, for example.
The applied tax will then be the same as that applied to the capital income with the single flat tax (PFU, or flat tax), at a rate of 30%. " The question of taxation is one of the obstacles identified, " said Pierre Person for which this rate will provide a " stable mechanism to encourage investment in cryptocurrencies .
"Nevertheless, if the blockchain asserts itself as a type of register capable of transforming economic exchanges, the prospect of seeing the blockchain upset the current financial organization in the short term remains weak.
Marten Nelson, co-founder and CMO of Token, a UK banking platform, says the system is not about to be replaced by the blockchain . " The financial system is still managed by the central banks, the banks and the states.
The change that will appear is that they will seize the blockchain as a technology to improve and secure transactions ", explains there.
An opinion shared by Balazs Deme, CEO of the decentralized financial platform Herdius, which anticipates " a long transition " and adds that " the banks are only beginning to digitize ".
What leave sufficient room for maneuver actors to seize opportunities offered by the blockchain and establish a legal framework conducive to its growth.
To find out more: File | The point on the blockchain
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The blockchain ? A way to " revive France in the economic race ", according to Pierre Person, deputy of the 6th district of Paris and rapporteur of the mission of information on virtual currencies.
At the opening of the 1st edition of Blockchain Day organized at the Palais Brongniart in Paris on Wednesday, October 10, 2018, the elected LREM recognized that the blockchain , this technology of storage and transmission of information considered promising for its high level of transparency and transparency. security, would " structure the economy of tomorrow ".
"It will restore sovereignty and power to the individual, now in the hands of third parties", he insisted, third parties who are, today, essentially banks and public authorities.
If many countries are interested in the blockchain, France must, according to the elected, have " a reliable and readable tax and legal system " to allow the emergence of nuggets, attract foreign investors and limit the expatriation of companies specialized French companies.
Does an opinion seem to be shared beyond French borders? " Today, we need rules because transparency must be ensured for companies, customers and investors ", for example, called Chern Yung, development and growth hacking specialist for Huobi Global, a cryptographic trading platform .
A stakes of stability also for the technology itself. The recent excessive speculation around technology Bitcoin reflects the requirement to provide a more controlled environment for customers and investors, " the cryptomonnaies are increasingly volatile ecosystem. Blockchain is not helped by the bubbles and the instabilities, "explains Guillaume Burkel, CMO Archos
To read also: Cryptocurrencies and ICO: the new financing of companies?
A legal and fiscal framework for cryptocurrencies
The French ecosystem is starting to see the lines move. Whether it is the political or the economic world, work on the subject is progressing. Two parliamentary missions are at work on blockchain topics and cryptocurrencies.
And three reports were presented this year or soon.The cryptocurrency and ICO market is not forgotten either. To limit as much as possible the emission of fraudulent digital tokens, France has decided to formulate a legal framework for the blockchain . Until now, the absence of a framework prevented the legal qualification of issued tokens and made the investments made more vague and risky.
Through the adoption of the Pact Act , on Tuesday, October 9, 2018, the legislator has validated the creation of an optional visa , issued by the Financial Markets Authority (AMF) to all players who wish to issue tokens ( or tokens) on the French market.
The goal is to better protect customers but also to keep and attract investors who use this technology.
This white list is subject to several criteria, such as being a legal entity registered in France, complying with an obligation of transparency or not issuing a token that has already been regulated through a capital or debt instrument, for example .
In the same way, the banks, hitherto reluctant, will be obliged to open an account to the holders of projects having obtained this visa.
On the other hand, cryptocurrencies will benefit from a flat-rate taxation . If Pierre Person has ensured that the passage from one cryptoactif to another cryptoactif will not be taxed, the event giving rise to the tax on the realized gains will occur at the time of its transformation into fiduciary money, that is to say during conversion into euros or dollars, for example.
The applied tax will then be the same as that applied to the capital income with the single flat tax (PFU, or flat tax), at a rate of 30%. " The question of taxation is one of the obstacles identified, " said Pierre Person for which this rate will provide a " stable mechanism to encourage investment in cryptocurrencies .
"Nevertheless, if the blockchain asserts itself as a type of register capable of transforming economic exchanges, the prospect of seeing the blockchain upset the current financial organization in the short term remains weak.
Marten Nelson, co-founder and CMO of Token, a UK banking platform, says the system is not about to be replaced by the blockchain . " The financial system is still managed by the central banks, the banks and the states.
The change that will appear is that they will seize the blockchain as a technology to improve and secure transactions ", explains there.
An opinion shared by Balazs Deme, CEO of the decentralized financial platform Herdius, which anticipates " a long transition " and adds that " the banks are only beginning to digitize ".
What leave sufficient room for maneuver actors to seize opportunities offered by the blockchain and establish a legal framework conducive to its growth.
To find out more: File | The point on the blockchain
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