France Appoints Bitcoin skeptic as a Cryptocurrency ‘Mission Leader’
Jan 17, 2018 Posted / 2819 Views
Since past few months governments around the world are announcing their plans in relation to cryptocurrencies. On January 15, the Minister of the Economy Bruno Le Maire announced that it would soon create a “digital currencies mission” and formulate a working group that will implore on the regulation pertaining to cryptocurrencies. Additionally, Le Maire appointed the former Bank of France (BOF) deputy governor, Jean-Pierre Landau, as the new chief of the working groups.
Interestingly, Jean-Pierre Landau expressed earlier that bitcoin is similar to the tulip mania but yet he was appointed the ‘cryptocurrency mission leader’. The media reports from the last spring speculated that many bitcoin proponents consider that French politicians and regulators might favour cryptocurrencies in the future. The predictions started flowing, as the leftist Emmanuel Macron became the President of France. The French President was seen photographed brandishing a Ledger hardware wallet.
The Minister of the Economy Bruno Le Maire says the nation is formulating a working group led by the former BOF deputy governor that will implore on the workings of digital currencies and hence proposing regulatory framework. The Minister of the Economy explained
“We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin… I asked the Argentine G20 members to take up this issue and I have now entrusted Jean-Pierre Landau, the former deputy governor of the Banque de France, to complete a mission concerning cryptocurrencies.”
According to the ministry, Jean-Pierre Landau’s mission will be accountable for substantiating guidelines on the progression of regulations and to better administer the development. Thus the mission will also be responsible for circumventing the use of the cryptocurrencies for the purpose of tax evasion, money laundering or for financing criminal activities and terrorism.
France has recently witnessed a great number of economic and terrorist threat, which is why it is little cautious in its approach. However, the country is also home to cryptocurrency-centric areas and businesses like La Maison du Bitcoin (The Bitcoin House), the company Ledger Wallet’s headquarters, and a shopping plaza called La Cercle du Bitcoin (Bitcoin Boulevard).
The Minister of the Economy’s picked Jean-Pierre Landau as they were cautious about-about the illegal activities tied to digital currencies. Nonetheless, everybody in the country knows that the former BOF deputy governor Landau has a distaste for bitcoin as he publicly wrote an opinion against the currency for the Financial Times in 2014. The editorial was named as; “Beware the mania for Bitcoin, the tulip of the 21st century.” In this article, Landau explained that bitcoin is very much like the tulip mania that allegedly took place some decades ago. In addition, he wrote that cryptocurrencies like bitcoin are appealing to criminals only.
“The currency is at present attractive for two reasons — One is anonymity, which makes it suitable for tax evasion and money laundering — This will not last; authorities are already wising up.
However, France has a pretty active bitcoin community and they might not welcome the appointment of the new cryptocurrency mission commander.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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