Cryptocurrencies should not be regulated, says French minister

This Thursday, July 5, the famous & # 39; Mr. Bitcoin & # 39; Jean-Pierre Landau in collaboration with the Ministry of Economy and Finance, publishes a report in which they point out the reasons why it is not advised nor necessary to regulate the decentralized technology.

Recall that in the past, Landau did not show an attitude precisely in favor of digital currencies, with opinions such as "inappropriate as a means of exchange", until "they do not are attractive only for reasons of anonymity and for criminals who want to launder money and evade taxes ".

Now, his comments seem to go beyond support, as well as to collaborate on the publication of government report, which is not nothing because it contains about 100 pages of questions about technology, finance and why overregulations are harmful, instead of benefits

One of his comments refers to the following:

The danger has three aspects: that of freezing the rapid evolution of technology in legislation, that of not grasping the real nature of the object we intend to regulate and drive innovation towards regulatory evasion. On the contrary, regulation must be technologically neutral and, in order to become so, it must be oriented towards the actors and not towards the products themselves.

It also advocates the "minimum principles of transparency, integrity and soundness of trade, which should be considered by lawmakers as part of the future plans of the European Union in the issuance of". a Euro-Bitlincense ", said the economist.

The paper also makes the distinction between technological innovation and finance.In this sense, the authorities argue that:

We must dissociate technological innovation, which we must encourage and stimulate, monetary and financial innovation, which must be viewed with caution.In the current phase, the correct approach would be to allow cryptocurrencies ( and the innovations that they promote) to develop in the virtual zone that they occupy, while avoiding and limiting any type of contagion or error in other unprotected areas. 19659006] Since recent attacks by hackers, scammers and criminal groups internationally, many government entities have tightened their legal frameworks to eliminate these risks, mainly associated with fraudulent ICOS or cryptocurrencies.

repressive movement can lead to a reduction in the crime rate, also produces a negative effect on innovations and new companies in the sector, whose developments may be truncated with the approach of regulatory figures of the year. State, causing an interference effect that can alter the course of development and that is precisely what Landau and the government discuss French language

Source Coincrispy