Oh, Europe, you’re at it again! The European Data Protection Board (EDPB) is about to rain on Bitcoin’s parade, and it’s looking like a thunderstorm that could have serious consequences for crypto lovers everywhere. According to Alexandre Statchtchenko, co-founder of French crypto exchange Paymium, a new consultation could totally ban Bitcoin across Europe. Yes, really.
Why on Earth Is the EDPB After Bitcoin?
The EDPB’s draft guidelines have decided that Bitcoin public keys are “personal data”—seriously! So every single Bitcoin transaction would now have to comply with GDPR (General Data Protection Regulation). Why? Because a public key could, in theory, identify someone. Which means you’d have to delete your data if you wanted to, but wait… blockchain is like, “No, I don’t do that.”
This has caused a little issue because, as you know, blockchain loves its immutability—nothing can be changed or erased. So, Europe’s shiny new privacy laws and Bitcoin’s permanent ledger are like two superheroes who just can’t agree on how to save the world.
Alerte réglementaire — Bitcoin risque l’illégalité de fait en Europe
Si les Guidelines du Comité Européen de la Protection des Données (EDPB en anglais) sont confirmées dans leur version finale, il n’existera plus aucun usage de Bitcoin 100 % conforme au droit européen.…
— Alexandre ‘unhosted’ Stachtchenko (@StachAlex) May 5, 2025
Critics React: Is This the Worst Idea Ever?
The backlash has been swift, and it’s safe to say no one’s happy about this proposal. Critics are calling the EDPB’s “solution” a bit too radical—and also a tad impractical. The committee even admitted that to make Bitcoin GDPR-compliant, we’d need a whole new system, one that simply doesn’t exist. So, yeah, good luck with that!
AML vs. Anonymity: The Ultimate Legal Face-off
Let’s talk about the true comedy of errors here. GDPR says you need to anonymize and delete your data, but Anti-Money Laundering (AML) and Know Your Customer (KYC) laws say “nope, anonymity isn’t allowed in financial transactions.”
So, in France (and other EU countries), anonymous crypto transactions are treated like money laundering. Bitcoin, caught in the middle, is now facing a regulatory gridlock. The drama!
What’s Going Down Next?
The EDPB’s consultation period lasts until June 9, 2025, and the crypto world is watching closely. Expect some loud voices from legal experts and big industry names. If the guidelines pass as is, Bitcoin could be banned in Europe, leaving millions of users scratching their heads and wondering how they got into this legal mess.
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2025-06-05 15:22