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French Finance Minister in Favor of Crypto Possibly After G-20 Summit
Editorial Team

The G-20 financial summit seems to have transformed some financial ministers’ mood over crypto. In fact, the French Finance Minister, Brune Le Maire, declared the importance of cryptocurrencies in the global economy and wrote a Tweet supporting Bitcoin and Blockchain technology.

Why Le Maire changed his opinion is unclear. At the end of 2018, Le Maire and his German counterpart pressed the Argentinian Finance Minister to treat cryptocurrency regulations during the G-20 financial summit. European authorities then worried about the possible negative impact of cryptocurrencies on the global economy.

Now, Le Maire decided to express a fresh opinion on crypto via a tweet that reads as follows:

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

However, Le Maire did not miss the opportunity to explain that cryptocurrencies could be used for illegal activities. Something that believes many finance leaders across the world.

At the same time, Le Maire elaborated that the financial technology is crucial for the market to be developed, saying:

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

There are also other world leaders that show support for cryptocurrencies. For instance, China’s new central bank governor, Yi Gang, called cryptocurrencies and Bitcoin inspiring and enlightening.

Moreover, Spain’s Economy Minister Román Escolano Olivares stated that cryptocurrencies do not consist of a threat to the global financial system and explained that the European Union will not wait for global agreements to regulate cryptocurrencies.