European Interest

G20 should discuss cryptocurrencies

Flickr/Duncan Rawlinson - - @thelastminute/CC BY-NC 2.0

The policy and monetary implications of crypto-currencies should be discussed during the upcoming G20 meeting, according to the finance ministers and central bank governors of France and Germany.

In a letter to the finance minister of Argentina, current holder of the G20 presidency, the officials called for an international report on the implications of cryptocurrencies, an International Monetary Fund report on their financial stability implications and for work towards “trans-boundary” action to regulate them, reported the Reuters news agency.

“We believe there may be new opportunities arising from the tokens and the technologies behind them,” wrote French Finance Minister Bruno Le Maire, his German counterpart Peter Altmaier, French central bank governor Francois Villeroy de Galhau and his German colleague Jens Weidmann.

“However, tokens could pose substantial risks for investors and can be vulnerable to financial crime without appropriate measures. In the longer run, potential risks in the field of financial stability may emerge as well,” they added.


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