During the summit of “Big twenty” this week in Buenos Aires the Minister of Finance of France, Bruno Le Mayor stressed the importance of Bitcoin and cryptocurrencies for the global economy. Le the Mayor noted that France, along with Germany, called to discuss crypto currencies in the G20.
The Minister announced that France will begin to develop norms to regulate the cryptocurrency earlier than other countries to Europe has taken a leading position in the digital economy. G20 urged to prepare recommendations for the regulation of cryptocurrencies by July of this year, confirming that the rumors about the ban of cryptocurrencies is not true.
Le Mayor, like most world leaders, talked about the fact that cryptocurrencies can be used in illegal activities, but noted that it “firmly believes that this technology is useful enough for each country”. However, “we must create a regulatory standards and Europe will lead this process.”
According to the report published by the Brazilian news publication Criptomoedas Fácil, the Minister also does not exclude that in the future Central banks will be releasing its own digital currency. He suggested that this happens when the sector will become regulated.
According to the Minister, financial technologies are crucial for “the most effective development of the market”:
“We agree that scriptactive can be very interesting for all. And we stand for the Blockchain technology that can provide very good support to financial assets in Europe and anywhere in the world. We support these technologies, but we want them to be safe, and so we need to define clear measures for their regulation.”
The head of the French Ministry of Finance is not the only one who supported cryptocurrencies during the G20 summit. The Minister of economy of Spain Roman Escolano Olivares stated that he does not consider cryptocurrencies as a threat to the global financial system, and said that the European Union will not wait for global agreement on the regulation of cryptocurrencies.
According to CCN, at the beginning of this year, Le the Mayor announced the creation of a cryptocurrency task force chaired by former head of the Central Bank:
“We want a stable economy: we reject the risks of financial speculation and possible leaks associated with bitcoin. And I trusted this cryptocurrency mission Jean-Pierre Landau”.