French financial authorities are bolstering the national cryptocurrency regulations to prevent illicit activities, including money laundering and terrorism financing. Several ministries in France jointly introduced an order aiming to prevent anonymous digital asset transactions by banning anonymous crypto accounts. The new order acknowledged that digital assets or cryptocurrencies offer “significant opportunities for the economy,” noting that the French government is fully aware of their importance. Despite promising opportunities, crypto also comes with significant risks related to illicit financial activity, the authorities noted.
