Fierce Bitcoin Critic Is Appointed to Regulate Cryptocurrencies in France

January 16, 2018

Fierce Bitcoin Critic Is Appointed to Regulate Cryptocurrencies in France

Minister of the Economy and Finance of France Bruno Le Maire announced the creation of a working group that will work on a regulation of cryptocurrencies. He appointed a former deputy governor of the Bank of France Jean-Pierre Landau as the leader of this group.

According to LeMaire, Landau and his working group will be responsible for developing the regulation to prevent the use of digital currencies for illegal purposes, such as tax evasion, money laundering and terrorism financing. 

And that's where the interesting part begins. The fact is that Landau is known for his negative statements about Bitcoin and other cryptocurrencies. Back in 2014 he wrote an opinion piece which was published in Financial Times. He compared cryptocurrency to the tulip mania which happened in the 17th century and called Bitcoin a criminal money. 

He wrote:

"The currency [Bitcoin] is at present attractive for two reasons — One is anonymity, which makes it suitable for tax evasion and money laundering — This will not last; authorities are already wising up. The other is pure speculation, and bitcoins are the tulips of modern times — The mania is not yet over, but the longer it lasts, the more investors are likely to be burnt."

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