French finance minister calls for bitcoin regulation debate at G20

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture
FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo

December 17, 2017

PARIS (Reuters) – France will propose that the G20 group of major economies discuss regulation of the bitcoin virtual currency next year, Finance Minister Bruno Le Maire said on Sunday.

“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin,” Le Maire told French news channel LCI.

“There is evidently a risk of speculation. We need to consider and examine this and see how (…) with all the other G20 members we can regulate bitcoin.”

Bitcoin’s prices have risen more than 1,700 percent since the start of the year, triggering worries that the market is a bubble that could burst in spectacular fashion.

European Union states and legislators agreed on Friday on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies.

(Reporting by Gus Trompiz and Caroline Pailliez, editing by David Evans)

  • NotSure

    And there will be the end of BitCoin? Or maybe the move to make it the new standard instead of the U.S. dollar that many nations have been wanting to get away from for a decade or more? If the latter is correct that will put another nail in our sovergenty and move even closer to a unified government.

  • JustmJustm

    Well here we go …….GOVERNMENTS TO THE RESQUE????
    No its just they taxing GREASY FINGERS CAN’T STAY OUT OF YOUR POCKETS……well what’s new……….

  • J. Waltam

    How do you regulate something that doesn’t exist, except in the minds of their owners?

  • All American

    Huge risk! Wise move! This is something that should be extremely regulated!