In October 2008, Satoshi Nakamoto, creator of pseudonym Bitcoin, published his famous white book “Bitcoin: and Peer-to-Peer Electronic Cash System”. In the first block of the network, which was launched a few months later, Satoshi scored the front page of Times magazine that day “The Times 03/Jan/2009: Chancellor is going to award the second rescue plan to banks”. Although it may seem harmless, it is far from. In fact, this reflects one of the solutions that Bitcoin brings: to get a currency out of centralized and often corrupt entities. The recent unveiling of the General Rapporteur of the French Senate is again emphasized by the banking drift and the need for decentralized solutions such as Bitcoins.
- The scandal of the “cumcum” tax optimization has revealed the involvement of several banks in maneuvers to circumvent dividends taxation.
- Bitcoin by its decentralized nature offers a response to the excesses of the traditional banking system by making it difficult to hide manipulation and fraud.
Bank Lobby pointed to the Senate report
19 June was brought to work on one of the texts of the Law on Finance 2025 a team of Senate newsletter. In practice, part of this text seeks to set up mechanisms to stop the “cumcum” cut.
As a reminder, the practice of “tax optimization” that allows foreign holders of French events Go through the dividend tax. This method revealed during the 2018 scandal reveals the involvement of several banks in these maneuvers.
Vacuum to be corrected by the 2025 Finance Act, but which, as Jean-François Husson (LR) emphasizes The provisions against Fraude were completely emptied from its substance.
According to its report, the text published by the government adds specific cases of the law. In practice, these cases introduce violations again to enable the circumvention of the law.
Also by Jean-François Husson there is no doubt that Banking lobby is the cause of these changes in the text.
“It is the bank lobby itself, through the French banking federation, which asked Bercy to provide these cases of non -related taxes, while the banks themselves benefit from this fraud.” »»
The situation, which was also noticed by the tax administration Bercy, the Directorate for the Tax Regulations and the General Directorate of Public Finance.
Bitcoin: reaction to bank lobby
With its decentralized and transparent nature, Bitcoin offers a specific response to the excesses of the traditional banking system.
Unlike currencies controlled by central institutions, bitcoins work on public blockchain, where each transaction is recorded and verifiable by all, making it difficult to hide manipulation and fraud.
In addition, its program and decentralized character reduces the ability of powerful actors such as banks or lobby, to influence the rules to their benefit or introduce legal shortcomings for circumventing the system.
Bitcoin thus offers an alternative model where confidence is no longer based on (often) institutions, but on transparent and unchanging mathematical and cryptographic rules.
Obviously, bitcoin is not without centralization factors. For example Bitcoin mining is still a highly centralized activity around several mining pools.
(Tagstotranslate) Bank (T) France