France & Germany call for global bitcoin clampdown
Joining the chorus of regulators calling for a crackdown on cryptocurrencies, the French and German finance ministers said digital tokens “could pose substantial risks for investors” and potentially long-term financial stability.
In a letter to fellow G20 finance ministers – signed by French Finance Minister Bruno le Maire and his interim German counterpart Peter Altmaier, along with the heads of the two countries’ central banks – they said that cryptocurrencies currently have “limited” implications for global financial stability.
“Given the fast increase in the capitalization of tokens and the emergence of new financial instruments” based on them, “these developments should be closely monitored,” the ministers said.