France declares war on the cryptocurrencies

[reck1ess]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

[target]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

That's true. They'd be irrelevant when it comes to cryptocurrnecies which is why they'd do anything to keep us in line. Its no surprise if they are already trading in exchanges actually but since there is noting that will keep them in control over the numerous tokens being created in blockchain, they are going to be less important to the people still even if they all are going to buy all Bitcoins.

[rancidgash]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

Minister of Economy and Finance of France has instructed a former central banker to develop any new rules and warn about the "risks of speculation and possible financial manipulation" related to the bitcoin and other crypto-currency.

[iliev41]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

Minister of Economy and Finance of France has instructed a former central banker to develop any new rules and warn about the "risks of speculation and possible financial manipulation" related to the bitcoin and other crypto-currency.

France's finance  minister, Bruno Le Mer, said he wanted new regulations targeting virtual currencies.

[stely41]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

Minister of Economy and Finance of France has instructed a former central banker to develop any new rules and warn about the "risks of speculation and possible financial manipulation" related to the bitcoin and other crypto-currency.

France's finance  minister, Bruno Le Mer, said he wanted new regulations targeting virtual currencies.

Minister of Economy and Finance of France want  stop the use criptocurrency which surrounds   circumvent tax laws, terrorist financing, and other crimes.

[Kokoy]

this could be the cause of today's trading chart blues almost all the coins down all the price, but I am sure all this is only temporary, after no more news like this again then all will be back mending again

Yes thats true, and this will make Bitcoun price on huge dump again, I dont have any idea why they were banning Bitcoin since I am just a new worker here, there wa always a part on thid platform that we might be seen, as stated above, maybe in relation which current issues today about terrorism thats why they will banned Bitcoin, another Big country again?

[Martinkuhn]

Regulation is a good thing for the crypto world.

We ought to support taxing on crypto gains like a capital gains tax as this would mean that governments are recognizing crypto as an asset class.

Countries that have developed financial markets will not ban crypto but they will want to regulate it.

This is a matter of time as crypto market will reach a size that central banks cannot afford to ignore very soon.

[nightxglow]

Having a country banned bitcoin can affect negatively to bitcoin though, since people will get the wrong perception and begin to think that bitcoin really is something bad.
Moreover they use the reason like criminal and such, and those people who don't understand may believe and try to badmouth bitcoin as well.
But it may affect more drastic if there are many bitcoin investors in france, and they're forced to sell all their bitcoin and never access it again. And this new regulation may also lead to another banned from others countries, though i hope it won't ever happen.

[pitiflin]

At the end of the day what people are doing is dodging taxes and they are reaping all the benefits, they are having their full income, and the government is only making expenses for the public without getting anything from the public. The only way for the governments to get  taxes from the government is to regulate crypto.
People are not using crypto for it was intended to be. Terrorism has in fact increased due to the usage of cryptos, so here's where regulation has to be implemented. Though this may violate one's privacy, this is essential for one in the bigger picture if he/she wishes to use crypto for long.

[ajochems]

Having a country banned bitcoin can affect negatively to bitcoin though, since people will get the wrong perception and begin to think that bitcoin really is something bad.
Moreover they use the reason like criminal and such, and those people who don't understand may believe and try to badmouth bitcoin as well.
But it may affect more drastic if there are many bitcoin investors in france, and they're forced to sell all their bitcoin and never access it again. And this new regulation may also lead to another banned from others countries, though i hope it won't ever happen.

The ban is only for the French people.Even they can use of VPN to hide their location of trading. There may be a huge war between the real money and cryptocurrency. Due to such ban ,the price of bitcoin  is now reduced.

[Uko21]

The true behind this, is that the government believed  that bitcoin is actually use for or it enhancing drug trafficking, terrorism and money laundering. They failed to remember that transaction using blockchain can actually stop most of the corruption going on due to it transparency. Anyway that's politics, tomorrow they might come up with something different. But I advise investors to continue to hold as bitcoin may one day be acceptable worldwide for exchange from my own perspective

[fiulpro]

This might be the cause of dropping its value , i also read about the banning of bitcoin ni korea particular in south korea if im not mistaken , the only thing that bothers me is that why they are banning this such thing wherein i cant see any illegal here that can make their economy to fluctuate  .

South Korea banned Bitcoins trading because there were a lots of scammers and people who did fraud .. and now they have said that they will resume it but only with verified accounts nothing else.

I do think that , that step was justified and we'll thought and at the end of the day bitcoin trading is going to continue so one shouldn't think that much about it.

On the other hand France is totally being conservative on this topic and that's rather problematic for the price of Bitcoins.

[aardvark15]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This can cause a price drop, but I don’t see this as anything more than a way for the government to collect taxes. They also want to cut down on ransomware attacks that demand Bitcoin as payment. The cryptocurrency environment will survive these regulations just like the internet survives various regulations as well.

[gigantus]

I'm not surprised by this news. In France, as far as I know, there are always very large taxes, so large companies are running from there to hide their incomes.

[KurtR90]

Le Maire recalled his intentions to propose a regulation for cryptocurrencies during the annual summit of the G-20, corresponding to 2018. Reason why the French government will ask Argentina to include it in the agenda of the organization. If the Bitcoin regulation was included in the next summit, it would be discussed on January 29 during the Meeting of the Initiative on Data Gaps in Buenos Aires, Argentina.

The position of discussing a regulatory framework for Bitcoin and blockchain technology from the G-20 is also shared by the financial leaders of Italy and Germany, who endorsed the proposal. This is not the first time that Le Maire comments on Bitcoin concerns, as in December 2017 he commented in an interview that another of his concerns is the possibility of hiding "activities such as drug trafficking and [financing for ] terrorism. " Concerns similar to those of multiple governments at this time, but according to a report published by the United Kingdom, it rejects the use of cryptographic currencies as a form of financing of this type of illicit activities.

[Ranly123]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

France has beedn critical on their defense against terrorism since they have been attacked by terrorist in the past years. Though with that strict approach on cryptocurrency in their country, atleast they are not banning it. So for me, it has no effect on the downside of cryptocurrency afterall. Maybe new investors would think twice before they invest, but those who already in cryptocurrency will not panic sell their coins.

[Cryptomagnus]

Now that bitcoin start to achieve popularity and public acceptance, banks and governments start to realize its revolutionary potential.
So, we can expect all kind of measures against bitcoin, but at the end there is nothing they really can do.

[Capt00]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

This is one of the statement that caught my attention
"A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community."
The real enemies of cryptocurrencies are the one managing the banks. They wanted to destroy the crypto world for it affects their businesses and they are losing too much investors. This statement, in my opinion, shows how desperate they are to say that it should be globally regulated. Well, good luck to them.

Of course banks may worried of losing their income and clients if cryptocurrency will becoming a currency used globally. Because banks are mostly protected with the governments for sure they will protect them, in fact government still generating income them too unlike having these cryptocurrency. But I believe it won't make crypto stop from spreading and it's is not totally a barriers, still it will make way to inform others the goodness of having this new generation of currency.

[Semosuchi Tesongrato]

There were lot of bombastic declarations in the last weeks, but the true is that they are scared to lose the control and start to react histerically.
There is nothing they can really do to stop bitcoin progress.
Much more, the surprise is how well it resists under a so violent attack.
Think about a company demonized in this way by media and institutions....

[biskitop]

If the news is true, it will be very dangerous. Because other countries would also follow mngikuti french if indeed cryptocurrency considered dangerous.