French finance minister linked cryptocurrencies to drug trafficking …

French finance minister linked cryptocurrencies to drug trafficking and money laundering

French Minister of Economy and Finance Bruno Le Maire returned to criticism of the cryptocurrency space. Previously he stated that the Libra stablecoin will be threaten the “monetary sovereignty of states”.

In a tweet published today by Le Maire writes, what cryptocurrencies are associated with trade drugs and weapons, and are also used for money laundering. When this he spoke positively about blockchain as a technology.

French finance minister linked cryptocurrencies to drug trafficking ...

“We do not subject doubt reliability and traceability of all blockchain technology. But some cryptocurrencies may be used to carry out illegal activities (drugs, weapons, money laundering) anonymously “, – wrote the Minister of Finance.

Le Maire gave such a comment in response to statement Cyril Paglino, general partner of the Starchain Capital crypto fund, words whom blockchain-transactions “Are not of interest for terrorists “. Paglino addressed to more Le Maire’s early statement when that one called on to strengthen control over cryptocurrencies due to terrorist financing risks.

Paglino noted that cryptocurrency transactions available for tracking in blockchain, and terrorists still prefer to use cash. is he also referred to a recent data breach Networks to combat financial crime USA (FinCEN), which demonstrated that banks actively used for money laundering.

In 2018 year Le Maire announced the creation of a working group by developing norms to regulate cryptocurrencies. “We need a stable economy. We want to avoid risks of speculation and financial sabotage associated with bitcoin“, – he said then.