Tax law, for its part, is much less concerned with

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"Notaries, bailiffs and lawyers will not disappear. They will still play their role, but at different stages of the contractual process," he predicts. He also points out that for the moment, an algorithm is still not accepted as a method of proof and that in the event of using the smart contract protocol, the parties must take into consideration the new risks generated by this technique and provide for specific clauses in the event of hacking, data corruption, fraud, etc. Beyond homeowner database the private sphere, public order will also have to be taken into account: how can an automated termination clause be compatible with the provisions of Article 1343-5 of the Civil Code, which allows the judge to grant a grace period? The provisions relating to bankruptcy law, the GDPR, consumer law, etc. will also have to be taken into consideration. In any case, he concludes, "smart contracts will not escape their legal destiny."



considerations relating to the nature of these new tools and knows how to "remind the taxpayer of their fond memories". Karim Sid Ahmed, Lecturer at the University of Cergy and head of the Master's in Tax Law, returned to the classification, by the administration, of the value of Bitcoins and other cryptoassets. A decision of the Council of State of April 26, 2018 has complicated things. If the gains from habitual operations on these assets are still taxed under industrial and commercial profits (BIC), the administration now distinguishes, for gains from non-habitual activities, between simple investment transactions (taxed under BNC) and those resulting from the participation of taxpayers in the production chain of these assets, i.e. mining operations, which may be subject to taxation under capital gains on the sale of movable property. Nadine Prod'homme Soltner, lawyer and lecturer at Paris XIII, also drew the audience's attention to the problems of the date of valuation of the gain of these highly volatile assets, particularly with regard to the calculation of inheritance tax: should they be valued on the day of death, with the risk of loss or gain inherent in significant variations in its price, when the latter is published? The problem also arises for the taxation of gratuitous transfers and the ISF. Furthermore, the tax specialist points out that for the CJEU (ruling of October 22, 2015) the exchange of Bitcoins for currency is not taxable under VAT, because it is considered a currency exchange. She then returned to the problem of tax audits, which are very limited since the administration has no means of accessing the servers that produce these assets. "Blockchain is an economic gamble, but it is also a tax gamble, both for the administration and for the taxpayer who has little clarity on the applicable tax regime," she observed.