France creates a working group for the regulation of cryptocurrencies

France creates a working group for the regulation of cryptocurrencies

The Minister of economy of France, Bruno Le Meir announced the establishment of a working group to develop regulatory standards for cryptocurrencies.

As reported by French newspaper Les Echos, in his speech on Monday, Le Meir said that the working group will be responsible for the creation of a framework for the regulation of cryptocurrencies with the purpose of preventing the misuse of technology.

We want a stable economy. We reject speculative risks and possible financial losses associated with bitcoin.

Le the Mayor indicated that this working group will be headed by Jean-Pierre Landau, former Deputy Governor of the Central Bank of France.

The mission of Jean-Pierre Landau concluded in the development of rules and principles for the regulation of cryptocurrencies and prevent their use for tax evasion, money laundering or financing criminal activity and terrorism.

A month ago, Le Meir had proposed a debate on the regulation of bitcoin in the G-20 summit in 2018. He said that it would appeal to Argentina to include bitcoin in the agenda for the upcoming meeting in April.

Obviously, there is a risk of speculation. We need to review and examine it and see… jointly with other members of the G20 we can regulate bitcoin.

Yesterday, the Director of Germany’s Central Bank expressed the same opinion, saying that the cryptocurrency should be regulated on a global scale and not only at the national level.

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