© Monasse T/Andia/Universal Images Group/Getty Images100 Euro
Restrictions on cash transactions in France and across the EU have already tightened in recent years.
Speaking before a Senate commission on Thursday, Darmanin said that "a large part of daily delinquency and even criminal networks rely on cash," and declared that "the end of cash would prevent the establishment of drug dealing points."
Darmanin, who previously oversaw public finances as Minister of Public Action and Accounts, acknowledged that banning physical money wouldn't eliminate the drug trade, but insisted that "once the money is traceable," it becomes "more complicated" for both consumers and dealers to escape financial oversight.
The justice minister admitted that criminal groups would likely shift to using cryptocurrencies in place of cash - but argued this would be an improvement, since "crypto is often easier to trace" due to blockchain records and new EU rules on transaction monitoring. Under the European Council directive set to come into force next year, crypto asset providers will be obligated to collect and share sender and recipient data with tax authorities, effectively ending anonymous crypto transfers within the bloc.
The proposal to ban cash is likely to face resistance from the French public, who continue to view it as a vital tool for privacy and budgeting. A 2024 survey by the Banque de France found that while card payments are now dominant (used by 62% of respondents), 60% still consider access to cash "important or very important." Respondents cited anonymity (40%), immediate settlement (37%), and better control over spending (31%) as key advantages of physical money.
Critics have warned that banning cash altogether could raise concerns about financial surveillance and undermine personal freedoms. Darmanin acknowledged those concerns but argued that illicit cash circulation poses a greater systemic risk. "It is good that we monitor notaries, banks, and real estate," he said, "but it's time we look at parallel cash circuits that bypass the formal economy altogether."
In France, any cash payment over €1,000 to a professional entity is prohibited and punishable by a fine of up to 5%, unless the person has no bank account or other means of digital payment. For transactions between private individuals, the cap is €1,500, unless the parties sign a written contract with full names and contact details, according to guidelines from the Ministry of Economy and Finance.
At the EU level, the European Parliament passed a directive imposing a bloc-wide hard cap of €10,000 on cash transactions starting in 2027. According to the European Commission, the aim is to close loopholes that allow criminal groups to move large sums anonymously.
Reader Comments
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How you like them apples?
Abolish them please.
I call for it.
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Cash is King and gold is better - and silver most fine - and bitcoin - tis a mathematical construct - and digital currency ain't happening you mother fuckers!
So take that and shove it where the sun don't shine you losers!
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If cash is "abolished" by central authority - then central authority gets replaced!
Simple.
Cash is King - can't be abolished - all your MMT bs is known - and all the pilot test - consider Nigeria - have been complete failures - so keep trying - but eventually if you push the pendulum too far it comes back with vengeance and it kills YOU - pushing all these stupid idiot ideas we all know are total elitist banker-loving bs crap - and so let the pendulum meet you face-to-face with vengeance you so-called elitist criminals - you son's of bitches - think you gonna enslave humanity.
Fuck You!
Cash is King - and gold and silver are better!
they wouldn't think to do away with cash if the people weren't largely familiarized to an alternative, which is obvious when I'm stood in a queue and hear the beep of approval from card and "phone" or see the many delivery vans transporting their online purchases.
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Anyway, this smells very much of desperation.
So we create the crime through oppressive laws and then fight the "crime" we've created with further oppressive laws.
Can anyone take this seriously?
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Microns "punching partner" is a topic of its own.
Danger doesn't have to always exist. It can be stopped. Accidents will always exist but danger isn't a necessity. Someone under 24 hour surveillance would never be in danger but people seem to think that means they don't have any freedom. People see freedom as being able to go about their day without being watched. Freedom and danger go hand in hand in that way because criminals desire to commit crimes without witnesses or their victims being able to access help from others.
But the whole point is THEY define what are "criminal activites", which is already mostly defined as just excercising freedom.
Eventually of course the "criminal activites" will simply be any attempt at all to avoid slavery.
You are now expected to agree that people, or at least, persons, can refuse your offer of cash by putting up a sign that says cash is not acceptable.