Germany and France to Push for Global Cryptocurrency Regulation at G20 Summit
- The concerns over cryptocurrency are already shared by several governments across the globe.
Germany and France will jointly push for global Bitcoin Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( during the next summit of the G20 in Argentina amid mounting alarm that the world’s most popular cryptocurrency is being used by illegal groups, French Finance Minister Bruno Le Maire said on Thursday.
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Germany’s finance minister Peter Altmaier said at the joint news conference in Paris that he supports a proposal by Le Maire to ask their counterparts in the G20 group of major economies to consider joint regulation of bitcoin.
He said: “We have a responsibility towards our citizens to explain and reduce the risks.”
Le Maire told reporters that authorities “will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March.”
The concerns over cryptocurrency mining, trading and usage to transfer money are already shared by several governments across the globe, so it makes sense to discuss the speculative risks of such digital assets and their impact on the financial system at international level.
The European Union has previously proposed to bring providers of financial services related to Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw under the scope of its anti-money laundering and countering terrorist financing regulations.
While global concerns have been voiced before in several regulatory announcements and warnings, Le Maire’s proposal could be the first step to bring those worries into global action, though doing so could raise many controversies.
Germany and France will jointly push for global Bitcoin Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( during the next summit of the G20 in Argentina amid mounting alarm that the world’s most popular cryptocurrency is being used by illegal groups, French Finance Minister Bruno Le Maire said on Thursday.
Discover credible partners and premium clients at China’s leading finance event!
Germany’s finance minister Peter Altmaier said at the joint news conference in Paris that he supports a proposal by Le Maire to ask their counterparts in the G20 group of major economies to consider joint regulation of bitcoin.
He said: “We have a responsibility towards our citizens to explain and reduce the risks.”
Le Maire told reporters that authorities “will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March.”
The concerns over cryptocurrency mining, trading and usage to transfer money are already shared by several governments across the globe, so it makes sense to discuss the speculative risks of such digital assets and their impact on the financial system at international level.
The European Union has previously proposed to bring providers of financial services related to Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw under the scope of its anti-money laundering and countering terrorist financing regulations.
While global concerns have been voiced before in several regulatory announcements and warnings, Le Maire’s proposal could be the first step to bring those worries into global action, though doing so could raise many controversies.