French financial authorities have announced a new plan to ban all anonymous cryptocurrency transactions in a bid to tackle money laundering.
Announced on December 9, the decision was backed by French Finance Minister Bruno LeMaire and Overseas Minister Sebastien Lecornu, and other members of the government and will hopefully limit the number of illicit transactions in the country.
Something similar has already happened in Spain, where financial authorities have been warning crypto holders that they are subject to tax.
Thankfully, though, the French government is not all gung-ho about the undeniable potential of cryptocurrencies.
In the document introducing the ban, only anonymous transactions are mentioned, and authorities seem to appreciate the potential of crypto.
This is not surprising, following a G7 meeting where countries have vowed their support for the development of an international regulatory framework and addressing the issue closer.
Authorities mentioned that the request to take these measures has been brought on by businesses in the crypto space that wish for more transparency in the sector.
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