Tougher Rules For Bitcoin In France To Avoid Criminal Use

Tougher Bitcoin Regulation Might Become A Hard Hitting Reality In France For Avoiding Criminal Mishaps

The French finance minister Bruno Le Maire recently revealed that he plans to win over terrorism financing, tax evasion and other crimes entered into through the cryptocurrency mode by bringing forth a brand-new set of rules and regulations. The minister revealed through an economic speech addressed to the general public on Monday that he has ordered the former central bank chief to draft new regulations which shall counter the “risks of speculation and possible financial manipulation” linked with the usage of cryptocurrencies. Subordinates at Le Maire’s office could not provide us with further details on the main content of this rulebook.

With the skyrocketing value of cryptocurrencies, regulators around the globe have taken a harder stance in regards to cryptocurrencies and their free trading. Le Maire also added that the government run by President Emmanuel Macron shall “not cede anything” as it coerces internet giants to cease the usage of tax havens. He also wished for Europe to gain a competitive edge in terms of aggression over China and U.S. both of which have been tackling the cryptocurrency issue with much stringency.

Also Read: Germany Joins Other European Governments Pushing For Global Bitcoin Regulation

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Tarunima Ghosh Laha is a Finance Post Grad from St. Xaviers who believes Finance is more than just Balance Sheets and Ledger creation. This filmy bookworm who believes she was a sloth in past life also nourishes a penchant of owning a private zoo someday. Equipped with a laptop and online Lexicon she is all set to give finance a glamorous makeover in the form of exciting writeups with bang on info and flashy new words.