The MR wants to postpone the losses of crypto investors

The MR has done a major investigation into cryptocurrencies. The party formulates proposals to support investors and promote the emergence of a crypto ecosystem.

The MR study center conducted a in-depth study of the cryptocurrency market. Objective: to make proposals to support the development of this emerging sector.



“We must not infantilize cryptocurrency investors. We must give them the right information and give them the freedom to invest.”

Georges Louis Bouchez

chairman of the MR

The MR resolutely positions itself as a defender of what the Center Jean Gol study calls “the blockchain revolution”. “This is a major technological innovation. Politicians should have an interest in it. Rather than listing all the problems and drawbacks that can arise, we prefer to set ourselves up for technological advancement. The government’s first instinct is often to ban. MR, we are earlier in favor of the development of private initiative. We want to support the emergence of a business ecosystem around the blockchain and cryptocurrencies,” explains Georges-Louis Bouchez, chairman of the MR, who has made an appointment with his avatar, for a 3.0 interview in the metaverse. very permeable to cryptocurrencies,” he tells us.



“Cryptocurrency is something very democratic. It’s a kind of local currency that has gained momentum on the Internet.”

Georges Louis Bouchez

chairman of the MR

Even if he is not one of them, the chairman of the MR notes that more and more Belgians are investing in cryptocurrency. According to a study by the ECB, there are more than 500,000. “We must not infantilize them. We must give them the right information and give them the freedom to invest,” Georges-Louis Bouchez said. However, the FSMA, the watchdog of the financial markets, formally advises against investing in these types of extremely risky products. “People go into debt to invest in real estate. We are not going to prevent them from buying a house under the pretext that they take the risk of not being able to repay their loan,” continues the chairman of the MR.

Pro crypto



“Is speculation wrong? Is it wrong to make money? If an investor puts $1,000 into crypto and earns $5,000, that money will come back into the real economy.”

Georges Louis Bouchez

chairman of the MR

Very spicy, reveals Georges-Louis Bouchez a fairly favorable approach to virtual currencies. “Cryptocurrency is something very democratic. It’s a kind of local currency that has gained momentum on the Internet.” The party chairman does not deny that most crypto investors are attracted to the speculative side of these digital assets. “So what? Speculation is wrong? Is it wrong to make money? If an investor puts $1,000 in crypto and earns $5,000, that money really goes back into the economy and can be reinvested. Crypto Investors Are Entrepreneurs‘, estimates the chairman of the MR.

33

%

When considered speculative, capital gains on the sale of crypto assets are taxed at 33%. To counterbalance this provision, the MR proposes to defer capital losses over a period of three years.

These entrepreneurs want to defend the MR. Among the proposals made in its study, the party suggests: loss carry forward made on the sale of crypto assets. Indeed, if not considered good family investments, crypto investments are likely to be characterized as speculative and as such taxed at 33%. In line with this, the MR proposes that realized losses can be carried forward over a period of three years. “This would enhance Belgium’s attractiveness from a tax point of viewThe study underlines. Problem: This measure would favor crypto investors, to the detriment of individuals investing in equities who, under the current state of legislation, cannot remit their losses.

More hospitable banks

The Liberal Party also wants a “entitlement to accounts” in favor of companies operating in crypto. These are often rejected by banks, who do not want to take risks with companies operating in an industry that is considered sulphurous. “This represents a major obstacle to the development of this ecosystem in Belgium,” the study regrets. “This also applies to individuals,” says Georges-Louis Bouchez. Investors who have made good deals in crypto often find it difficult to repatriate their profits to their bank accounts. The chairman of the MR wishes watch the anti-money laundering rules evolve so that banks open the door for crypto investors.

To promote the emergence of an ecosystem around crypto, the MR also offers: promote cryptocurrency payments, “where possible”, for example on public transport. The party also wants the establishment of a so-called system of “sandbox”, which should allow companies active in crypto to test new projects without being restricted by existing legislation. The MR also proposes that the future digital wallet from Belgians – a project led by Secretary of State Mathieu Michel – will be secured via blockchain technology.

Crypto: what are the parties proposing?

In ‘s house the devotee“We think we should support innovation,” says Brussels MP Christophe De Beukelaer, initiator of the Brussels Blockchain Week and the first Belgian parliamentarian to convert his salary into bitcoin. “We believe that the traditional financial world has not run smoothly since the 2008 crisis. Crypto is a counterforce that must be supported‘, the MP underlines.

The betrothed propose to: clarify the tax system by specifying the concept of a good fatherallowing crypto investors to be exempt from tax on their capital gains. “Many investors do not dare to return their money to the real economy, for lack of a clear framework, believes Christophe de Beukelaer. We should set a deadline, a maximum number of moves that we can make in order to be part of the good father. to stay away from the family.

Like the MR, the centrist party proposes to sandbox system to promote the emergence of start-ups active in crypto. Les Engages also offer to buy a legal personality at the DAOsthese autonomous organizations that operate on the principle of decentralization.

In ‘s house Eco, the first proposal deals with the sometimes enormous energy impact of mining, this computer process that secures transactions. “Europe is going to establish a classification of cryptocurrencies based on their environmental impact. This classification should be used to: promote crypto assets that consume the least energysaid MP Gilles Vanden Burre, chair of a House advisory committee on cryptocurrencies.

Ecolo also proposes to establish a stricter framework and deploy an educational arsenal to protect young people, especially minors, that are constantly requested on social networks by crypto influencers. “The FSMA should be more proactive and issue more warnings. That is the purport of a text we just voted to better regulate advertising for cryptocurrencies,” emphasizes Gilles Vanden Burre.

The Ecolo party also wishes step up the fight against money laundering. “Justice and the FPS Finance need to acquire skills and specialists in the field of crypto assets,” estimates Gilles Vanden Burre.

On the side of PSwe want “to restore order to this digital wild west and better protect users.” The PS welcomes the future European MiCa regulation and the recent obligation to register cryptocurrency platforms with the FSMA. “These first elements are finally coming a little bit to regulate this ecosystem, which, if it is based on major technological innovations, must be much more controlled, especially because of the future risk of financial instability.”

In front of Challenge“It is necessary to regulate the crypto asset market to better protect, but also reassure consumers.” The party supports the European text MiCa, but wishes extend the scope to NFTs. Déf also wants to strengthen the regulatory framework regarding crypto platforms operating in Belgium: “We propose that crypto asset exchange platforms respect the same laws and restrictions as banks.”

The summary

  • The MR conducted a great study on cryptocurrencies.
  • It formulates proposals to support investors and promote the emergence of a crypto ecosystem.
  • The Liberal Party proposes forward loss compensation on crypto assetsmore than three years.
  • The MR wants banks to guarantee a “Right to Account” for Crypto Investors and Companies.

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