<p>French economy minister Bruno Le Maire has stated that crypto-to-crypto trades will be tax-exempt, according to a <a href="https://news.bloombergtax.com/daily-tax-report-international/france-wont-tax-crypto-to-crypto-trades-but-will-hit-gains-cashed-out">report</a> by Bloomberg. Instead, France will only tax cryptocurrency gains when they are converted into "traditional" currencies.</p> <p>“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.</p> <p>France's decision comes after <a href="https://www.theblockcrypto.com/linked/38002/portugals-tax-authority-says-crypto-trading-and-payments-are-tax-free/">reports</a> that Portugal's tax authority determined cryptocurrency trading and payments in the nation are tax-free.</p>