NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Anonymous Crypto Transactions Dealt Blow as France KYC Requirements Tighten

Samuel Wan
Samuel Wan
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Last week, French authorities agreed upon new measures to tackle anonymous crypto transactions. The new rules affect all French crypto exchanges, which must adhere to tougher know your customer (KYC) requirements.

The French Finance Minister Bruno Le Maire commented that this was necessary to deal with terrorist financing.

“We must dry up all the terrorist financing circuits for the smallest euro … we presented to the Council of Ministers this morning an order making it possible to strengthen the fight against the anonymity of crypto-asset transactions.”

In six months, French crypto exchanges must ask for two proofs of identity following a €1 spend. Previously, the spend limit trigger to request ID was at €1,000.

Every crypto exchange will need to register with the French finance regulators Autorité des Marchés Financiers (AMF). This even applies to exchanges that do not offer fiat pairs, which are generally seen as less risky due to the lack of on/off ramping.

Clampdown on Crypto Privacy Accelerates

The move by French authorities is part of a continuing clampdown on crypto privacy.

For well over a year now, FATF compliance has forced several exchanges worldwide to delist privacy coins, including the likes of Monero, Zcash, and Dash.

The latest privacy coin delisting sees Netherlands-based LiteBit remove Firo, formerly Zcoin, from its offerings with effect from December 22.

LiteBit emailed users to say this decision is:

“partly due to the privacy aspect of this crypto. The regulator of crypto companies in the Netherlands has indicated that cryptocurrencies aimed at privacy are too high a risk.”

Firo Co-founder Reuben Yap said the delisting of privacy coins is becoming a worldwide trend. But he points out that exchanges can meet regulatory compliance without delisting.

“At the moment, the impact is primarily limited to smaller or regional exchanges. However, it signals to the rest of the space that delisting is the only way to remain compliant with AML/KYC [know your customer/anti-money laundering], which isn’t the case at all, setting a bad precedent.”

Privacy Matters

With authorities raising the privacy stakes, the future for individual liberty becomes more uncertain.

Although Le Marie spoke of tackling terrorist financing, others point out the need to balance such dangers with preserving people’s right to privacy.

This is particularly relevant considering the public pushback against the infringement of personal data.

Crypto exchange Shapeshift, which also delisted a raft of privacy coins recently, points out an oligopoly of tech firms already dominants user data. This leads to a massive imbalance of control.

“They seem to dominate so much of the technology, push the limits of privacy and ultimately commoditize the ideas, thoughts, and actions of individuals.”

The crypto space faces the same type of control if privacy comes second to liberty. What’s worse is that government overreach on the matter assumes everyone is a criminal.

The outcome of further clampdowns will only drive privacy coins deeper underground.

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

xrp etf

Cena XRP vyskočila nad 3 $, keď SEC schválila nové ETF od ProShares

Ripple (XRP) a spolu s ňou aj Solana získavajú na sile. Investičná firma ProShares totiž uviedla na trh dve nové...

Karol Paták 8 hours ago
crypto news altcoin season

Top Crypto Analyst Confirms Altcoin Season: ‘It Starts Now’

Renowned crypto analyst Josh Olszewicz has declared what many crypto traders have long been waiting for: Altcoin Season has officially...

Jake Simmons 8 hours ago
token6900

SPX6900 je dosegel novo najvišjo vrednost

Meme kovanec SPX6900 je pravkar dosegel novo rekordno vrednost. Navdušeni opazovalci kriptovalut pa trenutno kot najboljšo priložnost za 1000-kratno rast...

tanjapotocnik 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

whale bitcoin

Ιστορική μεταφορά 40.000 BTC από «φάλαινα» Bitcoin προκαλεί σοκ στην αγορά

Ιωάννης Ριζόπουλος 6 hours ago

La Camera approva il riesame dei disegni di legge GENIUS, CLARITY e Anti-CBDC

clararosati 7 hours ago
Pakistan and El Salvador Team Up on Crypto — What It Means for the Best Presales Right Now

Pakistan and El Salvador Team Up on Crypto — What It Means for the Best Presales Right Now

Aaron Walker 7 hours ago

Premium Sponsors

Press Releases

  • No Mining Hardware Needed: SunnyMining’s AI Cloud Mining...

    4 hours ago
  • 仮想通貨プレセール|イーサリアム急騰で注目のアルトコインシーズンに100倍成長が期待できる銘柄

    ...

    5 hours ago
  • 「大きな一歩」―コインベースCEOが示す仮想通貨投資の『10倍成長』予測とビットコイン20万ドル目標

    ...

    5 hours ago
  • 2025年7月に注目すべき新しい仮想通貨 — 次の10倍成長が期待される銘柄とは?

    2025年7月に注目すべき新しい仮想通貨 —...

    6 hours ago
  • 仮想通貨1000倍を狙う次世代トークンとは?プレセール急成長の理由

    ...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.