France: The City Of Cannes Invites Its Merchants To Adopt Crypto!

David Lisnard, Mayor of Cannes, announced an ambitious initiative aimed at encouraging and training local shopkeepers in Cannes to integrate cryptocurrencies for payments. This approach is part of the city’s Web3 strategy, aimed at modernizing and energizing the local economy. However, this initiative does not seem to please everyone and has received strong criticism.

Will crypto soon be in shops in Cannes?

The initiative by the Cannes town hall aims to allow local businesses not to miss out on potential customers with high purchasing power by integrating cryptocurrencies as a means of payment. Although these digital currencies are already widely used in some countries, they remain marginal in France. Consequently, by offering shopkeepers the possibility to accept crypto payments, Cannes hopes to optimize this potential and increase the revenues of local businesses.

To support this transition, a training session is scheduled for Tuesday, February 4th at 2:30 PM at the Palais des Festivals et des Congrès. Led by experts, this session will cover the technical, legal, accounting, and tax aspects of crypto integration. This initiative is particularly relevant as Cannes prepares to host the 8th edition of the Ethereum Community Conference (EthCC) from June 30 to July 3, 2025, attracting a clientele accustomed to using cryptocurrencies.

The promotion of money laundering?

This initiative by the Cannes Town Hall is not unanimous among residents and experts. Some fear that the use of crypto as a means of payment could facilitate money laundering and attract illegal activities. Additionally, concerns are raised regarding the compliance of this project with anti-money laundering and anti-terrorism financing laws.

Moreover, others believe that cryptocurrencies, often seen as speculative and unstable, are not suitable for everyday transactions. Furthermore, this measure could primarily benefit luxury businesses, leaving aside the small shopkeepers of Cannes.

The Cannes Town Hall’s initiative to integrate crypto into businesses sparks debates. Shopkeepers will thus navigate between economic opportunities and legitimate concerns about security and legal compliance.