France to take bitcoin debate to G20 meet | The Daily Star
12:00 AM, December 20, 2017 / LAST MODIFIED: 12:00 AM, December 20, 2017

France to take bitcoin debate to G20 meet

France wants a discussion of bitcoin at the next G20 meeting with a view to regulating the cryptocurrency, a finance ministry source said Monday, saying the government believes there is a risk of bitcoin being used for "illicit financing".

"The rise of bitcoin creates a risk linked to speculation and also linked to the possibility of illicit financing," said the source who is close to Finance Minister Bruno Le Maire.

"France will raise the topic in the G20 context," the source said, adding that "a legal framework" was needed for the virtual currency.

Bank of France Governor Francois Villeroy de Galhau meanwhile said that any regulation "only makes sense if it happens at the international level.

"The time is right to raise the question at the G20," he told the BFM Business programme.

Bitcoin, created in 2009, has seen a dizzying rise in value in recent weeks.

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