Stephane Boukris posted a somewhat unusual announcement on LinkedIn. What appears at first glance to be a banal real estate ad actually raises a real question about the legal support for cryptocurrencies. Indeed, the owner offers to rent his apartment for 1 ETH per month.
If you are looking for an apartment in Paris, this ad will interest you. Finally, provided that you own cryptocurrencies. Indeed, Stephane Boukris, owner of the apartment in question, asks a rent of 1 ETH per month. The latter concludes his announcement with a touch of humor by stating that his property “is not in the Metaverse, but indeed in Paris”.
“The idea was to show that you can rent accommodation in cryptocurrency”, explains the president of a digital recruitment company. However, if the French State now asks to declare its income in cryptocurrencies, can we really pay rent with digital currency? According to Me Romain Rossi-Landi, “nothing prohibits renting accommodation in cryptocurrency”.
Can you pay your rent in cryptocurrency in France?
But, there is a but “. Like any accommodation located in Paris, Stephane Boukris’ apartment must respect rent control . A first problem then arises. For a furnished 3-room apartment of 60 m² located in the 16th arrondissement, the property in question should not exceed €33 per square meter. However, according to the current price of Ethereum, the rent requested by the owner is equal to nearly 2800 euros, i.e. €47 per square meter.
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“I took 1 ether because this price is a reference and a lower price would have been less viral”, justifies Stephane Boukris, while emphasizing that this price could be scaled downto align with market trends. An operation that will not be so easy, given the strong fluctuations to which Ethereum is subject. This is the main obstacle to the project: depending on the month, the owner as well as the tenant could come out deal winner.