French economy minister Bruno Le Maire has stated that crypto-to-crypto trades will be tax-exempt, according to a report by Bloomberg. Instead, France will only tax cryptocurrency gains when they are converted into "traditional" currencies.
“We believe that the moment the gains are converted into traditional money is the right time to assess tax,” Le Maire said. Le Maire also added that the country's value-added tax (VAT) will only be assessed when a cryptocurrency is to purchase a good or service.
France's decision comes after reports that Portugal's tax authority determined cryptocurrency trading and payments in the nation are tax-free.
Mexico-based cryptocurrency exchange Bitso has raised capital from a number of major investors including Ripple, Coinbase, and Jump Capital to help it expand into Latin America.
The UNICEF is rolling out a pilot program to accept cryptocurrency donations—and won’t be converting the raised funds to cash.
The Commodity Futures Trading Commission chair believes that Ethereum is a commodity, according to Yahoo Finance.
Ripple announced on Wednesday a collaboration with UK-based Finastra, reportedly the third-largest FinTech firm in the world, to allow Finastra's customers access to RippleNet, Ripple's global payment network, for faster, cheaper, and more reliable cross-border payments.
Malta-based cryptocurrency exchange, Binance, has added WeChat and Alipay as payment methods on its platform.