France advances a proposal to impose an 'unproductive' unrealized capital gains tax on cryptocurrency holdings exceeding €800,000

The French Senate is set to transform the Real Estate Wealth Tax into the 'Unproductive Wealth Tax,' which now includes a progressive unrealized gains tax on digital asset holdings, ranging from 0.5% to 1.5%, even if the assets remain unsold. The proposal also includes provisions to increase the capital gains tax from 30% to up to 37.2% in certain cases. It is currently awaiting a vote in the National Assembly.