France creates a working group to regulate cryptocurrency

French Economy Minister Bruno Le Maire announced the creation of a working group to develop rules for regulating digital currency

In his speech, Le Maire said that the working group will be responsible for proposing regulatory principles and developing a structure of rules for cryptocurrency in order to prevent abuse of technology.

“We want a stable economy. “We reject the risks, speculation and possible financial losses associated with bitcoin,” the minister said.

The new working group will be headed by the former deputy governor of the country’s central bank, Jean-Pierre Landau. His responsibilities include overseeing the development of rules for regulating digital currency. The priority areas of the project were measures to prevent tax evasion, financial crimes, money laundering and terrorist financing.

Earlier, Bruno Le Maire proposed a discussion on the topic of cryptocurrencies and Bitcoin regulation to representatives of the G20 at the April G-20 summit in 2018 year. He said he would ask Argentina to put the issue on the agenda at an upcoming meeting.

Also, the director of the German Central Bank expressed a similar sentiment, saying that digital currencies should be regulated on a global scale, not just at the national level.     

According to coindesk