Argentina vs France
Crypto regulation comparison
Argentina
France
Legal
Legal
Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.
France has one of Europe's most developed crypto regulatory frameworks. The PACTE law (2019) established the PSAN (prestataire de services sur actifs numériques) registration regime, now transitioning to MiCA licensing. Crypto gains are subject to the 30% flat tax (prélèvement forfaitaire unique).
Tax Type
Income
Tax Type
Capital gains
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
30%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
AMF (Autorité des Marchés Financiers), ACPR
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
Regulated under MiCA; stablecoin issuers need e-money or credit institution license
Key Points
- CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
- Crypto gains taxed as income under the income tax law at progressive rates
- High adoption driven by inflation and capital controls on the Argentine peso
- Exchanges must register with the CNV and comply with AML/KYC requirements
- No legal tender status for crypto; the peso remains the only legal tender
Key Points
- 30% flat tax on crypto capital gains (12.8% income tax + 17.2% social charges) for non-professionals
- PSAN registration required by AMF for all crypto service providers (mandatory since 2023)
- Transitioning from PSAN regime to MiCA licensing framework in 2024-2025
- Professional crypto traders may opt for progressive income tax rates
- France is home to major crypto companies including Ledger and Société Générale's FORGE