French Finance Minister, Bruno Le Maire, has published an unprecedented open-ed in which he has stated that the world needs to embrace the cryptocurrency and blockchain phenomena.
The announcement represents arguably the most high profile, unequivocally positive position on the blockchain revolution yet adopted by a leading G7 finance minister.
France to Create New Legislative Framework for Cryptocurrencies
Within the piece, Le Maire provides a brief outline of the crypto-currency revolution before going on to state that “Bitcoin was merely a precursor …. the Blockchain is bringing unprecedented opportunities for our [French] start-ups,” through the ICO model and other crypto-derived assets.
The Finance Minister also states that he has assigned one of France’s leading civil servants, Jean-Pierre Landau, with the responsibility of creating an entirely new legislative framework for cryptocurrencies and blockchain technologies with one objective in mind: to bring finance “into the 21st century, whilst providing all participants [in the blockchain revolution] with the necessary guarantees for their own advancement.”
“We do not plan to miss out on this revolution,” he added, stating further his intention to put cryptocurrencies and blockchain technologies at the heart of discussions at the current G20 gathering in Buenos Aires.
The statement was released yesterday evening at around 7pm Paris time, and appears to have preceded a general market rally over the last twenty-four hours that have seen the combined market cap of all crypto-currencies recover to a two-week high.