French Minister: G20 Should Examine Bitcoin Regulation At Their Next Summit

12/18/2017 - 22:04 UTC
Bruno L Maire: G20 To Debate Bitcoin Regulation At Their Next Summit

The Finance Minister of France, Bruno Le Maire, stated that the next G20 summit should discuss how to regulate Bitcoin.

G20 is not a formal organization but a powerful group of the biggest economies of the world: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, and the European Union.  Thus, any decision made by G20 affects all these countries as well as Europe, which are pretty much most of the countries where bitcoin transactions are being made and crypto exchanges are operating.

The next G20 summit is scheduled to take place in Buenos Aires, Argentina, in 2018.

Speaking on the the French TV channel LCI, the French Minister talked about the speculation surrounding Bitcoin which, he believes, needs to be regulated. Thus he is going to propose the topic to be discussed in the next summit. He said:

There is evidently a risk of speculation. We need to consider and examine this and see how (…) with all the other G20 members we can regulate bitcoin.

If G20 members indeed reach a unanimous decision on regulating bitcoin, that will surely have an effect on nearly all cryptocurrency markets. Whether that effect will be positive or negative remains to be seen of course.

What do you think? Should bitcoin be regulated?

 

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.