Faced with the speculative danger of bitcoin, which is for some a bubble, France is seeking to regularise cryptographic transactions in the country. Even better, the French government is considering convincing other countries to study this topic together, which is becoming more and more pressing.
Bitcoin in the spotlight at the next G20?
A number of countries around the world are seeking to regulate bitcoin and cryptocurrencies, including France, so why not join forces and find common regulatory strategies? This is what the French government, like Bruno Le Maire, wants in any case. The latter plans to put it on the agenda of the G20 meeting in Argentina:
"I will propose to the next G20 president (Argentina in April) that we all discuss the issue of bitcoin together. There is obviously a risk of speculation. We need to look at this and discuss with all the other G20 members how to regulate bitcoin." Bruno Le Maire, French Minister of the Economy and Finance.
It remains to be seen whether Argentina and other nations will agree to discuss digital currency issues together at the summit next April.
France already on the road to regulation
In any case, the French government will not wait for the response of the G20 organisers to continue its regulation projects related to cryptocurrencies. It is recalled that the Department of Finance recently unveiled an ordinance authorizing the use of blockchain, the underlying technology of most digital currencies.
At the end of October, the Autorité des Marchés Financiers (AMF) launched an initiative to manage ICOs, and also to set up a "sandbox" called UNICORN, similar to those already found in Canada and England. The G20 could thus be an opportunity to achieve a unified and, above all, coherent international policy.