France vs Latvia
Crypto regulation comparison
France
Latvia
Legal
Legal
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).
Cryptocurrency is legal in Latvia and regulated under the EU MiCA framework. Since 2023, the financial regulator FKTK merged into Latvijas Banka, which now oversees VASP registration and AML compliance. Capital gains from crypto are taxed at 20%. Latvia has been proactive in implementing EU-wide crypto standards.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
30%
Tax Rate
20%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
AMF (Autorité des Marchés Financiers), ACPR
Regulator
FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
Stablecoin Rules
Regulated under MiCA; stablecoin issuers need e-money or credit institution license
Stablecoin Rules
Regulated under EU MiCA framework
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
Key Points
- VASPs must register with Latvijas Banka and comply with AML/CFT requirements
- Capital gains from crypto taxed at 20% personal income tax rate
- MiCA framework applies from December 2024, transitioning existing registrations
- Latvia transposed the 5th Anti-Money Laundering Directive for crypto oversight
- Latvijas Banka absorbed FKTK regulatory functions in January 2023
