The end of the anonymity of the crypto in France: towards complete supervision of transactions?

1. The French Senate has adopted a bill that prohibits anonymization of crypto transactions, focuses on private mixers and cryptocurrencies such as Monero, under the pretext of combat washing.
2. Any use of anonymization services will be considered suspicious, although the illegal crypto transaction remains marginal and reveals the reinforced will of state control.
3. The accelerated procedure limits the debate and, if the Assembly confirms the law, the crypto disappears in France, threatens innovation and financial sovereignty.

Prohibition of anonymous transactions in an accelerated procedure

The The French Senate was accepted First reading the billed on Disable any form of anonymization Cryptocurrency transaction. This text directly focuses on the mixing of services and cryptocurrencies of anonymity such as Monero under the cover of the fight against money laundering and funding for drug trafficking.

This measurement is part of the logic The expectations of European regulationsIn particular, Regulation (EU) 2024/1624, which will be stored in July 2027 Prohibition of accounts allowing anonymization of transactions. The integration of this restriction into the financial and Financial Code will take the lead by strengthening its repressive arsenal against the confidentiality of cash flows in the crypto.

Criminalization of anonymity under the pretext of financial security

The text of the law is not limited to the service providers in the field of digital assets (Written). Is also planning Sanctions for individuals using blender or reinforced anonymity of cryptocurrency. From now on, each transaction will be automatically assimilated through these tools to a suspicious operation of money washing.

The security argument submitted by the government is based on the idea that anonymous cryptocurrencies would facilitate crime. However, studies on the chain show a very different reality: the share of illicit cryptal transactions has never been so weak. This contradiction reveals a much wider intention: Ply Overall check over digital transactions And they drastically reduce the financial freedom of citizens.

Accelerated legislative procedure, without a real debate

Use Accelerated procedure limits the possibilities of dispute. The National Assembly will not have Only one reading to examine the textUnless disagreement leads to summoning a common common committee. In the event that MEPs confirm the version of the Senate, the law could have been declared in the coming months, so that the defenders of digital freedoms have left an effective opposition for a short period of time.

This legislative collision resembles the will expressed in 2024 Banque de France and the Office for Financial Markets (AMF) to submit supervision of the ESMA crypt flow, the European market supervision. This project is heading towards increased control of digital transactions in parallel with the development of a fully traceable digital euro.

Threat for innovation and financial sovereignty

If Prohibition of anonymity of crypto It is verified by the assembly, the holders of cryptocurrencies in France will have to leave any form of confidentiality under punishment for sanctions. This development risk that many users encourage many users to migrate their assets into more favorable jurisdictions, reducing the attraction of the French crypt sector already weakening The regulations.

In addition, the text remains vague at The exact definition of “mixers of cryptocurrency”. Protocols such as Tornado cash are obviously focused, but what about the bridge operations between the blockchains? Could Monero detention be considered illegal? These gray areas open the door to even more disturbing cryptocurrency transactions and represent a serious dilemma between security and respect for individual freedoms.

Article End of anonymity crypto in France: towards complete supervision of transactions? Appeared for the first time at the Coin Academy Academy