Heads of the Ministry of Finance and the Central Bank of France and Germany call to include in the agenda of the G20 the topic of crypto-currency
The finance ministers and heads of central banks (CB) of France and Germany called for a detailed discussion of the topic of control over crypto-currencies at the G20 meeting in Argentina in March. This Friday, Reuters reported, citing their letter to Argentine Finance Minister Luis Caputo.
“We believe that there may be new opportunities for tokens, new crypto-currencies and technologies related to them,” the agency quotes an extract from the appeal of French Finance Minister Bruno Le Mer, his German counterpart Peter Altmeier, the heads of the Central Bank of France François Villerua de Galo and Germany Jens Weidman.
“However, crypto currencies can pose significant risks for investors, and may also be vulnerable to financial crimes,” they add. “In the long term, potential risks in the area of financial stability may also arise.”
The meeting of heads of the ministries and central banks of the G20 is scheduled, according to the schedule on the G20 website, on March 19-20 in Buenos Aires. The day before, their deputies will meet.
Crypto currency is a kind of digital currency, the creation and control over the turnover of which is based on cryptographic methods. In particular, the concept implies work on the basis of blockbuster technology (a “chain of blocks”) – a decentralized database that is not associated with one common server.
Previously, Minister of Finance and Economics of France Bruno Le Maire stated that the authorities of France and Germany intend to assess the risks associated with crypto-currencies, in particular with bitkoyn, and to formulate rules for monitoring them. On January 18, at a press conference in Paris after a meeting with the head of the German Federal Ministry of Finance Peter Altmayer, he said that France and Germany would conduct a joint analysis of the risks associated with bitkoyn, prepare proposals for its regulation and present them in the form of generalization to colleagues from the G20 countries at the summit in Argentina.
The head of the French Ministry of Finance has repeatedly warned about the possible risks associated with playing the game crypto-currency. On January 15, he announced that he instructed the former head of the Bank of France, Jean-Pierre Landau, to develop a strategy for controlling crypto-currencies.