The French minister of the economy, Bruno Le Maire, stated the nation is creating a group to develop cryptocurrency regulations.

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“We want a stable economy. We reject the risks of speculation and the possible financial diversions linked to bitcoin,” Le Maire stated in an interview with French news outlet, Les Echos.

The group will be led by former deputy governor of the Bank of France, Jean-Pierre Landau.

“Jean-Pierre Landau’s mission will be responsible for proposing guidelines on the evolution of regulations and to better control development and prevent their use for the purpose of tax evasion, money laundering or for financing criminal activities and terrorism,” Le Maire said.

Last month, Le Maire proposed discussing the regulation of the technology during the G20 summit.

“There is evidently a risk of speculation. We need to consider and examine this and see how … with all the other G20 members we can regulate bitcoin,” Le Maire commented.

The topic of regulation is expected to be discussed during the upcoming G20 summit in April.

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