The French minister of finance earlier this year made very harsh statements towards cryptocurrencies and Bitcoin and called them a speculative asset. He went further to appoint a former central bank personnel to chair the process of an investigation into cryptocurrencies. He now says crypto assets can be interesting for everyone.
“We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin. I have just entrusted Jean-Pierre Landau, former deputy governor of the Banque de France, with a mission on cryptocurrencies.” Le Maire
The minister seems to now see the bright side of cryptocurrencies. During the G20 summit in Buenos Aires earlier this week, the French financial minister Bruno Le Maire pointed out that Bitcoin and cryptocurrencies can be very important to the world economy and also that crypto assets can be interesting for everyone according to Criptomoedasfacil, a Brazilian cryptocurrency news outlet.
“I believe that the first step is to allow fintechs and technologies for the financial market to develop in the best possible way… we agree that crypto assets can be very interesting for everyone” Criptomoedasfacil reports
He also said France will start working towards regulating cryptocurrencies before the world does as he wants to see Europe take the lead but also didn’t rule out the possibility of a French central bank cryptocurrency.
It should be recalled that a conclusion was drawn by Central bank governors during the G20 summit for a July deadline for proposals towards a unified crypto regulation to be made.
The minister praised the blockchain technology and its high importance which could revolutionize the entire financial space though he added the concern of them being used for illicit activities such as money laundering and terrorism financing.
“… and we obviously are in favour of blockchain technology, which can provide very good support to financial assets in Europe and anywhere in the world. We are in favour of these technologies, but we want these technologies to be secure and therefore we need to define clear measures for their regulations”
What are your thoughts towards this change in the point of view of Mr Le Maire? As the Finance minister says crypto assets can be interesting for everyone, does it mean we can expect very soft regulations from France?
Let us know your thoughts in the comment section below