Bitcoin in the viewfinder of Tracfin and the fisc in France

If you release capital gains with a cryptocurrency, you must declare them to the tax authorities because they are taxable. If you do not, you risk a recovery to the level of fraud. This is the warning of the government.
Unless you live reclusively in a cave, you have inevitably got wind of the incredible craze around crypto-currencies. It must be said that three of them have seen their value explode in the space of a year: the Bitcoin is worth almost twenty times more, according to current prices. As for the Ethereum and Litecoin, which were worth only a few euros at the end of 2016, it is now at gold prices that they exchange.
From then on, it may be tempting to place a (reasonable) part of his savings in the secret hope of making a nice capital gain.
Of course, there is no reason to say that the price will continue to rise indefinitely: at any time, a severe correction may occur and the price of the currency in which you have placed your money is likely to collapse below the threshold on which you are based to invest. This is a risk that French regulators often insist on when they talk about cryptocurrency.

Anyway, if you accept the rules of the game and the possibility of losing your starting bet (this is essentially what you should play with a sum that we are willing to lose) , do not forget to inform the tax authorities of any gains obtained by investing in cryptocurrencies: otherwise, you may have problems with the tax authorities.
This is the reminder that opportunist Gérald Darmanin, Minister of the Action and Public Accounts, slipped while the annual report established by the service Tracfin ("treatment of the intelligence and action against the financial circuits clandestins") on trends and analysis of money laundering and terrorist financing risks for the past year.
"We must remember that if there was surplus value, the tax administration - that's the instruction I gave it - would look at that. If this statement was not made, there would be intervention by the tax administration, "he said, in remarks reported by AFP. And by intervention, the Minister hears a "tax adjustment [which] would obviously be up to the fraud".

France is obviously not the only country in the world to be interested in the taxation of cryptocurrencies. The Canadian, German and US tax departments also believe that revenues from Bitcoin, Litecoin, Ethereum or any other virtual currency must be reported. The tax site has even been updated to remind taxpayers of this need:
"The purchase and resale of Bitcoins on a regular basis and for its own account is a commercial activity by nature whose revenues are to be declared in the category of industrial and commercial profits". It is added that "the income derived from this activity on an occasional basis is income falling under the forecasts of article 92 of the general tax code".

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Good luck my friends !