France’s National Assembly has ignited industry fury by narrowly passing a controversial amendment that classifies cryptocurrency as ‘unproductive wealth,’ imposing a flat 1% annual tax on digital asset holdings exceeding $2.2 million. The measure, passed by a 163-150 vote, places crypto alongside gold, yachts, and classic cars in a new tax base that experts warn fails to distinguish between passive investors and active ecosystem builders, potentially stifling innovation and driving talent abroad.
about France Adds Crypto to Wealth Tax, Sparks Industry BacklashNational Assembly
0 in Finance and 0 in Crypto last weekFrance Targets Crypto as ‘Unproductive Wealth’ in Tax Law
French lawmakers have passed a controversial amendment classifying significant cryptocurrency holdings as ‘unproductive wealth’ subject to taxation. The measure received cross-party support from socialist and far-right legislators in a tight 163-150 vote. This represents a significant shift in how digital assets are viewed under French tax law and could set a precedent for digital asset taxation across Europe.
about France Targets Crypto as 'Unproductive Wealth' in Tax LawFrance’s Lecornu Wins Socialist Backing to Pass Budget
French Prime Minister Sebastien Lecornu has secured crucial Socialist Party support in France’s National Assembly, dramatically improving his government’s chances of surviving two no-confidence votes scheduled for Thursday. The breakthrough comes as Lecornu’s administration focuses on passing a budget that addresses urgent economic measures while targeting a significant reduction in France’s deficit from 5.4% to 4.7% of economic output, with two-thirds of the adjustment coming from controversial spending constraints including frozen pension and welfare payments.
about France's Lecornu Wins Socialist Backing to Pass BudgetCrypto Kidnappings Rise in France, Lawmakers Act
A 26-year-old TikTok crypto influencer was kidnapped in Essonne, France, but released after his attackers found his wallet empty. This follows a pattern of ‘wrench attacks’—violent kidnappings targeting crypto holders—prompting French MP Paul Midy to propose a law restricting access to public figures’ residential addresses. Meanwhile, French police have arrested suspects linked to a high-profile crypto kidnapping case, including the alleged mastermind. Trezor, a crypto wallet maker, warns that such attacks are misguided, as blockchain transactions are traceable. France accounts for 14 of 50 global crypto-targeted kidnappings in the past year, with ransoms often demanded in crypto. Experts recommend offline backups and multi-wallet setups to mitigate risks.
about Crypto Kidnappings Rise in France, Lawmakers ActFrance Considers Bitcoin Mining to Utilize Excess Nuclear Power
A group of French lawmakers has proposed using Bitcoin mining to address the country’s persistent electricity surplus, particularly from nuclear sources. The proposal, submitted to the National Assembly, highlights Bitcoin mining’s ability to act as a flexible energy consumer, absorbing excess power and reducing waste. Lawmakers argue this could stabilize energy markets, repurpose old industrial sites, and support France’s decarbonization efforts. The initiative mirrors global trends, with countries like Belarus and Pakistan also exploring Bitcoin mining for energy optimization. Experts suggest this approach could enhance grid stability and create new economic opportunities while aligning with clean energy goals.
about France Considers Bitcoin Mining to Utilize Excess Nuclear PowerVietnam Regulates Crypto with New Digital Asset Law
Vietnam’s National Assembly passed the Law on Digital Technology Industry on June 14, 2025, marking the country’s first comprehensive regulation of digital assets. The law, effective January 2026, introduces a licensing regime for exchanges, AML safeguards, and tailored tax rules, ending years of regulatory uncertainty. It categorizes digital assets into ‘crypto assets’ (subject to strict licensing and KYC rules) and ‘virtual assets’ (with looser obligations). The move follows pressure from the FATF, which had placed Vietnam on its ‘grey list’ for AML deficiencies. With 17 million crypto holders and $100 billion in estimated holdings, Vietnam ranks fifth globally in crypto adoption. The law aims to attract institutional investment, protect local developers, and position Vietnam as a regional crypto hub alongside Singapore and Thailand. Key details, such as tax implementation and DeFi treatment, will be clarified in sub-decrees within 180 days.
about Vietnam Regulates Crypto with New Digital Asset LawSouth Korea Forms Digital Asset Committee to Revamp Crypto Rules
South Korea’s Democratic Party has formed the Digital Asset Committee to tackle crypto regulatory challenges and support sector growth. The committee, chaired by National Assembly Speaker Min Byeong-deok, held its inaugural meeting to discuss the restrictive ‘one exchange, one bank’ policy, which limits exchanges to a single banking partner. The committee is exploring alternatives to this policy and debating stablecoin oversight, including whether it should fall under the Bank of Korea or the Financial Services Commission. The move follows presidential candidate Kim Moon-soo’s endorsement of spot crypto ETFs.
about South Korea Forms Digital Asset Committee to Revamp Crypto Rules