Blockchain

French Finance Committee’s president calls for ban on anonymous cryptocurrencies

March 7, 2019, 4:49AM EDT

The Finance Committee of France’s National Assembly has prepared a report on crypto assets and blockchain with an introduction from committee president Éric Woerth, where he explains the committee supports blockchain as it offers great innovation, but cautions against cryptocurrencies which provide complete anonymity to users.

In fact, he proposes a ban on crypto assets designed to deliberately “prevent any possibility of identification of their holders,” giving the examples of Monero, PIVX, DeepOnion and Zcash.  

He also discusses the illegal practices in which cryptocurrencies may be used. According to Woerth, “We must be aware of the problems that crypto-assets may pose in terms of fraud or tax evasion, money laundering or fraud, or energy consumption.”  Woerth calls for national and international regulations that would promote transparency and security.