A new tax on “unproductive” wealth approved by the National Assembly

A new tax on “unproductive” wealth approved by the National Assembly

The French National Assembly has adopted an amendment to replace the current real estate wealth tax (IFI) with a new “unproductive wealth tax.” The measure, planned for 2026, aims to broaden the tax base by including certain assets previously excluded, such as gold, artworks, yachts, or luxury collections, while slightly lowering the maximum applicable rate.

The government’s stated goal is to better target “non-productive” wealth, meaning assets that do not directly contribute to the real economy, while avoiding discouraging investment in businesses. In practice, however, the reform may have a paradoxical effect: many “small millionaires” will see their tax burden rise, while the ultra-rich, whose wealth is mostly financial or international, would remain relatively unaffected.

Initial estimates point to fiscal revenues of around 2 billion euros, only slightly higher than the current IFI. Supporters view the measure as a symbolic step toward a more equitable tax system, while critics see it as a communication move with little real economic impact.

The debate is expected to continue as part of the 2026 budget discussions, at a time when redistribution and capital taxation are becoming increasingly central political issues in France.

The European Union prepares a new markets supervisor

Brussels is considering the creation of a single European supervisor similar to the U.S. SEC to centralize oversight of stock markets, cryptocurrency platforms, and financial infrastructure. The goal is to end the current fragmentation in which each member state applies its own rules, complicating access to the European market for companies in the sector.

Under this plan, ESMA (European Securities and Markets Authority) would become the core authority. It would oversee major cross-border entities, crypto platforms, and clearing houses, with enhanced arbitration powers in case of disputes between national regulators. This centralization would improve coherence and decision-making speed while reducing regulatory discrepancies across member states.

The project is part of the Capital Markets Union strategy, which aims to strengthen Europe’s financial competitiveness against the United States. Supported by Christine Lagarde and several EU commissioners, the reform could be formalized by the end of the year, marking a decisive step toward more unified financial and crypto regulation.

However, the proposal is divisive. Some member states, such as Ireland and Luxembourg, fear a loss of influence and added administrative burdens. Meanwhile, several crypto industry players are concerned about overly rigid supervision that may contradict the innovative spirit of Web3. It remains unclear whether a single regulator could balance efficiency, competitiveness, and flexibility without slowing the development of financial technologies in Europe.

Nvidia surpasses 5 trillion dollars

Nvidia has just reached a historic milestone by becoming the world’s first company to surpass 5 trillion dollars in market capitalization. This record confirms its status as the undisputed leader of the artificial intelligence and semiconductor revolution driving global digital transformation.

This rapid rise is fueled by explosive demand for graphics chips and processors dedicated to generative AI, data centers, and cloud computing. In just a few months, Nvidia’s valuation jumped from 4 to 5 trillion dollars, symbolizing the scale of the AI boom across all sectors of the economy. Its products power the world’s largest AI models, from research labs to cloud giants.

This success comes with challenges. Nvidia must maintain strong growth as competition intensifies from AMD, Intel, and Chinese manufacturers. Geopolitical tensions over chip exports to China also remain a major risk factor.

Major hack targeting Balancer

The decentralized finance protocol Balancer is facing a major hack affecting its v2 pools, triggering panic across the DeFi community. The project’s team has confirmed that a critical vulnerability is being exploited and has urged all affected users to immediately revoke permissions and, if possible, withdraw their funds to avoid losses.

Early analyses suggest that attackers are exploiting a weakness in the v2 smart contracts, allowing access to funds deposited in certain pools. Estimated losses already exceed hundreds of millions of dollars, although the exact figure has not yet been confirmed.

Balancer’s technical teams responded quickly by pausing certain functions and sharing emergency instructions on their official channels. Several blockchain security experts relayed the alert, emphasizing that users should not interact with any Balancer contract until the issue is resolved.

This incident highlights the ongoing fragility of DeFi in the face of code vulnerabilities and the growing complexity of interconnected smart contracts. Despite being considered a major and audited player in the sector, Balancer now joins the list of protocols recently targeted by sophisticated attacks.

At this stage, the protocol remains partially operational, but the top priority is securing the funds still in v2 pools. An investigation is underway to identify the exact origin of the flaw and determine possible recovery or compensation options for affected users.