In France, several proposed changes to the laws governing the tax treatment of cryptocurrencies were rejected in the parliament on December 17th. The proposals would have made the tax treatment for transacting in cryptocurrencies more advantageous. The decision comes a week after two French lawmakers released a report advocating for the investment of hundreds of millions of public money in blockchain technology.
The decision occurred in the Assemblée nationale, the lower house of the French Parliament that is currently debating the upcoming 2019 governmental budget. Four different amendments relating to cryptocurrencies were proposed and rejected by the Chairman of the Finance Committee, an elected deputy tasked with approving the new budget. The Chairman had the support of Bruno Le Maire, the Minister of the Economy and Finance for the Macron government.