France's highest administrative court rejects emergency application to suspend EU DAC8 encrypted data rules

The State Council of the French Supreme Administrative Court rejected the urgent application submitted by Bull Bitcoin and Paymium, refusing to immediately suspend the implementation of the French law implementing the EU Directive on Administrative Cooperation VIII (DAC8). The applicant believes that collecting personal and financial data of digital asset users in a centralized manner carries risks, and the court considers that the applicant has failed to prove the existence of urgent circumstances sufficient to support an emergency suspension. Bull Bitcoin's lawsuit seeking a comprehensive revocation of the law is still under review. DAC8 has come into effect in the European Union on January 1, 2026, and registered service providers must complete their first declaration for the 2026 fiscal year before September 30, 2027. (Source: Bitcoin.com News)