News Daily! Crypto In France Considered ‘Movable Property,’ Traders Get Tax Break.

France’s Conseil d’Etat (Council of State) has changed the tax rate on cryptocurrency sales to a flat rate of 19 percent, rather than up to 45 percent like before, local news outlet, Le Monde reported Thursday, April 26.

Le Monde noted that the decision to change the crypto tax rate came after citizens appealed to France’s highest regulatory body earlier this year to change the regulations for crypto transactions that had been in place since July 2014.

France has been working on their cryptocurrency regulations this year. At the beginning of the year, the Minister of Economy created a crypto task force to examine regulation, and in March, the government proposed a ban on investment companies to trade in crypto until regulations have been implemented.