Following France and Germany Plan G20 cryptocurrency regulation proposal amidst heightened demand and turmoil in the digital currency market, officials call for Argentina G20 Cryptocurrency Talks.
12 February, AtoZForex – French and German authorities are planning to discuss collaboration on cryptocurrencies regulations with G20 nations ahead of the summit that is taking place next month.
G20 Cryptocurrency Regulation Proposal
Previously, we reported this January that France and Germany have announced that they are considering to make a joint proposal on overseeing Bitcoin at an upcoming G20 meeting. The market insiders are speculating what the regulations might be. One of the possible hints is that the regulations might appear somewhat strict if France will be in charge of the process.
The nations did not disclose the exact details of their plans. French Finance Minister Bruno Le Maire has stated:
“We 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.”
His counterpart, German Finance Minister Peter Altmaier stated that “we have a responsibility towards our citizens to explain and reduce the risks.”
France and Germany Officials Call for Argentina G20 Cryptocurrency Talks
According to the latest developments, French finance minister Bruno Le Maire, German finance minister Peter Altmaier and the governors of those countries’ central banks have sent a letter to the Argentinian government. In the letter, they have raised the concerns in regards to the impact of cryptocurrencies. The officials have stated that cryptocurrencies “could pose substantial risks for investors.”
According to the online reports, the proposed discussions could result in the regulation. However, what kind of regulations might appear is still uncertain. However, the letter asks for a call for “appropriate measures.”
The group has also written:
“We believe there may be new opportunities arising from the tokens and the technologies behind them. However, tokens could pose substantial risks for investors and can be vulnerable to financial crime without appropriate measures. In the longer run, potential risks in the field of financial stability may emerge as well.”
Reportedly, the group has been working on the letter for several months.
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