"The main Bitcoin" in France: cryptocurrencies do not need to be regulated
Jean-Pierre Landau, who served as the second Deputy Chairman of the Bank of France from 2006 to 2011, was appointed "chief Bitcoin" by the French government at the beginning of this year: he was instructed to develop a vision of the Third Republic regarding cryptocurrencies.
"Mr. Bitcoin", as he was nicknamed by local media, recently prepared a report in which he made a number of statements. In particular, it States that the French state "has neither the need nor the desire" to regulate cryptocurrencies, since here we are talking more about the new technology.
The report States that regulation threatens to"freeze rapidly changing technology". This is contrary to the legal principle of French regulation, that it should be impartial, that is, neutral relating to the object of application of legal norms. Therefore, Landau proposes to regulate not the phenomena themselves, but to deal directly with those individuals and legal entities that are related to cryptocurrencies.
At the same time, he is sure that, for example, crypto-exchanges have the right to exist. Moreover, Landau said that they do not need to make excessive demands — enough that they comply with the "minimum principles of transparency, integrity and financial viability".
He believes that cryptocurrencies should be developed in their" virtual Kingdom", and France does not intend to interfere with them in this. However, the authorities of the country plan to make sure that crypto-coins do not become an integral part of the existing financial system, which should not be "infected" with crypto-coins.
Recall that in January, when Jean-Pierre Landau was entrusted with a high state mission, he said he sees in Bitcoins similar to what happened during the "Tulip fever" in the Netherlands.
