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French Finance Minister Bullish on Cryptocurrencies After G-20 Summit

It seems that the G-20 financial summit change the mood of some financial ministers. The French finance minister, Brune Le Maire, said that cryptocurrencies may play an important role in the world’s economy. At the same time, he wrote a Tweet in which he shows support for Bitcoin and Blockchain technology.

Bruno Le Maire Bullish on Crypto

Bruno Le Maire
There are no clear reasons why Le Maire changed opinion in the last months. At the end of 2018, Mr Le Maire and his German counterpart, pressed the Argentinian Finance minister in order to treat cryptocurrency regulations during the G-20 financial summit. The main worries that the European authorities had in mind were the possible harmful effect for the global economy that cryptocurrencies pose.

At the moment, Le Maire changed his opinion and it has decided to pin a tweet on his social account profile that reads as follows:

“We will not miss the Blockchain revolution. France wants to be force of proposal to build the world of tomorrow”

Of course, Le Maire did explain that cryptocurrencies could be used for illegal activities. This is something that is present among the financial leaders around the world.

At the same time, he explained that financial technology is very important for the market to be developed, and he said:

“We agree that crypto-assets can be very interesting for everyone. And we – obviously – are in favour of blockchain technology, which can provide very good support to financial assets in Europe or anywhere in the world. We are in favour of these technologies, but we want these technologies to be secure and therefore we need to define very clear measures for their regulation.”

Other world leaders are showing support for cryptocurrencies. Some days ago, we wrote at UseTheBitcoin that China’s new central bank governor likes bitcoin. Mr Yi Gang called cryptocurrencies and bitcoin inspiring and enlightening.

Spain’s economy minister Román Escolano Olivares, has also stated that cryptocurrencies do not pose a real threat to the global financial system and explained that the European Union will not wait for global agreements to regulate cryptocurrencies.


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