France Plans 1% Tax on Unrealized Gains, Including Bitcoin

French lawmakers have approved the first step of a proposal to replace the country’s property wealth tax with a broader levy on “non-productive wealth.”

The measure would affect assets such as Bitcoin, jewelry, art, yachts, and real estate, applying a flat 1% annual tax even if the assets haven’t been sold.

Supporters argue it will encourage investment in productive sectors, while critics warn it could penalize savers and reignite debate over the former ISF wealth tax abolished in 2017.