France is Worried about Bitcoin’s Consequences

Bitcoin is getting to be restricted by a lot of countries, and France might be one of them at some point. Yesterday, the Minister of Economy – Bruno Le Maire – notified the public about introducing a regulation for cryptocurrency using. In his speech, he claimed that “We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to Bitcoin”, related the French magazine Les Echos.

France is getting ready for an alleged boom of cryptocurrency inconveniences. Jean-Pierre Landau, the governor of the Banque de France in period 2006-2011, talked approximatively four years ago about his unbelief in cryptocurrency system. Today, he is now called “Monsieur Bitcoin” (“Mr. Bitcoin”) by French media outlet Les Echos.

What is France’s opinion about Bitcoin?

France has a great potential in extending the Bitcoin powerful system. They argue that Bitcoin is going to take a new change and the risks can be too harmful for their economy.

Also, the new regulation is supposed to cooperate together with the Banque de France and French Government. Mr. Jean Landau claims that Bitcoin needs specific strategies in terms of developing the system.

What’s next?

The Government of France is proposing to implement regulatory guidelines, so that they could control the consequences. They just want to prevent the economy from “tax evasion, money laundering and financing criminal activities or terrorism”. Bitcoin is being called “the tulip of 21th century”, related Les Echos.

Also, it is assumed that France will gather soon the G20 summit to analyze the future of cryptocurrencies.

What do you think about the changing views of the great economic powers of the world? How will this affect the global economy?