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French Financial Watchdogs Plans To Ban on Anonymous Cryptocurrencies

“It would also have been appropriate to propose a ban on the dissemination and trade in [cryptocurrencies built] to ensure complete anonymity by preventing any identification procedure by design. […] This is the case for a certain number of [cryptocurrencies] (Monero, PIVX, DeepOnion, Zcash…) whose purpose is to bypass any possibility of identifying the holders. To date, regulation has not gone that far.”

“The distinction between the different uses of [cryptocurrencies] must continue, to establish a finer and more precise regulation protector of the general interest, as well as the private interest of the entrepreneurs of this domain.” 

Japanese regulators suggested similar measures in April of last year, that by preventing cryptocurrency exchanges from trading anonymity-oriented altcoins Dash (DASH) and Monero. An unnamed member of the country’s regulator the Financial Services Authority stated:

The lower house of the French parliament rejected amendments to the 2019 finance bill, last December, which would have had eased crypto-related taxation. The parliament rejected four proposals in total, one of the amendments proposed to increase the annual volume of transactions that fall under tax exemption from 305 euro (around $341) to 3,000 euro ($3,359), or even 5,000 euro ($5,599).


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