Anonymous Crypto Transactions Dealt Blow as France KYC Requirements Tighten
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 […]
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The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing. France Tightens Crypto Surveillance France’s Council of Ministers endorsed an ordinance containing a series of measures to tighten the surveillance of cryptocurrency activities last week. The ordinance, which will enter into force in....
France has mandates its citizens to declare all revenue from all transactions involving Bitcoin. The Ministry of Economy and Finance of France has decided that revenue from Bitcoin transactions are subject to taxation even though the government does not recognize it as a digital currency. Of course, this stance has generated much controversy given the status of Bitcoin in the country. Nevertheless, according to French law, the new requirements will be lax for the underaged and those who only earn small amounts at irregular intervals using Bitcoin. “All taxpayers are required to declare all....
France is preparing new frameworks to prevent anonymity in crypto. French financial authorities are strengthening the country’s cryptocurrency regulations in a move to prevent illicit activities like money laundering and terrorism financing.On Dec. 9, several ministries in France jointly introduced an order aiming to prevent anonymous digital asset transactions by banning anonymous crypto accounts.The new regulatory effort is backed by French finance minister Bruno Le Maire, overseas minister Sébastien Lecornu and junior economy minister Olivier Dussopt. The order is pursuant to Article....
Depending on your view, a devastating blow has been dealt to crypto, or a much-needed purge is in progress due to the SEC suing Ripple and two of its top executives for selling XRP tokens which the regulator claims were unregistered securities. XRP dropped dove over 30% on the news, but the carnage might only […]
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country.
Indonesia Plans to Tighten Crypto Regulation
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said Tuesday at a parliamentary hearing in Jakarta.
One of the new rules requires two-thirds of directors....