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Emmanuel Macron spoke at Bercy, calling for strict regulation of cryptocurrencies. The message is clear: without a solid legal framework, digital assets risk becoming a playground for criminals and terrorists. This is not a hypothesis. It is a concern expressed at a conference dedicated to combating terrorist financing.
The figure he cites is interesting: less than 1% of cryptocurrency transactions are illicit. It’s a small proportion. But for Macron, this percentage is not reassuring. The potential for abuse remains very real, and the lack of adequate regulation could turn the sector into a lawless zone. His reasoning: even a small loophole can be massively exploited if no one is watching. And for now, surveillance is still very uneven across countries.
No clear rules, no control.
Pressure on Crypto Companies
Companies operating in the sector will likely feel the pressure mounting. Macron is not talking about killing innovation — he explicitly states that regulation should not hinder the development of financial technologies but should frame it securely. An important nuance. The idea is to require market players to be more transparent about transactions, to have mechanisms for identifying suspicious flows, and to increase cooperation with authorities.
And he goes further. He wants more advanced monitoring and detection tools capable of tracking fund movements in real-time. The technologies exist or are being developed. The question remains how to deploy them without infringing on the privacy of legitimate users — a delicate balance that the source does not really detail.
According to him, the investigative capacities of the competent authorities must also be strengthened. The goal is to track suspicious transactions faster and more precisely.
France, a Driver of a European Response?
The speech at Bercy fits into a broader context. The European Union is already considering measures to strengthen the legal framework around cryptocurrencies. Discussions are focused on stricter directives at the European level, with the aim of harmonizing national legislations. The idea: to prevent criminals from taking advantage of regulatory gaps between member countries to move their funds from one jurisdiction to another.
Macron is pushing for France to play a leading role in this. He sees Paris — and Bercy in particular — as a place from which to define standards that could then influence other European nations, or even serve as a basis for international norms. Ambitious. Perhaps too much. But the intention is there.
He also talks about international cooperation. Not just at the European level. For him, effectively combating terrorist financing through cryptos requires coordination between nations, information sharing, and common standards that would close gaps in the global regulatory net. Without this, criminals simply move to the most lenient jurisdictions.
This has been a known issue in the sector for years. Digital assets know no borders. Regulation, however, stops at borders. This discrepancy is precisely what Macron wants to correct — at least in theory.
It remains to be seen how all this translates into concrete action.
Innovation and Security: The Real Debate
The essence of the speech is a difficult balance to strike. On one hand, cryptocurrencies are increasingly integrated into the global financial system. Ignoring them or stifling them with regulation would be counterproductive. On the other hand, allowing the sector to develop without safeguards poses real risks to financial security — and not just in theory.
Macron seems to want both: innovation and security. He says regulation should guide development, not block it. But how to draw this line? The source does not provide specific details on the legislative measures envisaged, nor on a timetable. Unclear, for now.
Paradoxically, clear regulation could also strengthen investor confidence in cryptos. This is an argument that some industry players have been making for a long time: regulatory uncertainty does more harm than the rules themselves. If the rules of the game are known, legitimate players can adapt to them.
The speech at Bercy took place during a conference on combating terrorist financing — not a crypto forum, not a fintech fair. This choice of context says something about the angle chosen by Macron: national security before economic policy. Cryptos, seen from this perspective, are primarily a risk to be contained.
Less than 1% of illicit transactions. That’s the figure he put on the table.
Frequently Asked Questions
Why does Macron want to regulate cryptocurrencies?
Macron wants to prevent cryptos from being used by criminals and terrorists. He says that without a solid legal framework, the sector can become a lawless zone exploitable by malicious actors.
What proportion of crypto transactions are illicit according to Macron?
Less than 1% of cryptocurrency transactions are illicit, according to the figures cited by Macron in his speech at Bercy.
What role does France want to play in European crypto regulation?
Macron wants France to play a leading role in defining European and international standards, pushing for harmonization of national regulations within the European Union.
