French finance minister calls for bitcoin regulation debate at G20
UNTV News • December 19, 2017 • 4025
FILE PHOTO – French Finance Minister Bruno Le Maire delivers a speech as he attends a working session during the One Planet Summit at the Seine Musicale center in Boulogne-Billancourt, near Paris, France, December 12, 2017. REUTERS/Gonzalo Fuentes
PARIS (Reuters) – France will propose that the G20 group of major economies discuss regulation of the bitcoin virtual currency next year, Finance Minister Bruno Le Maire said on Sunday.
“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin,” Le Maire told French news channel LCI.
“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.”
Bitcoin’s prices have risen more than 1,700 percent since the start of the year, triggering worries that the market is a bubble that could burst in spectacular fashion.
European Union states and legislators agreed on Friday on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies.
Reporting by Gus Trompiz and Caroline Pailliez, editing by David Evans
The Department of Transportation (DOTr) is warning the public against malicious websites that use the name of Transportation Secretary Arthur Tugade as clickbait.
In an advisory, the department said these websites use Tugade’s driver’s license to lure internet users to a bitcoin website. The website requests users to supply personal information including phone numbers, email address, and passwords.
“The Department of Transportation (DOTr) is warning the public not to access and engage a malicious web page that uses a photo of a fake driver’s license of Transport Secretary Arthur Tugade as clickbait,” the advisory reads.
ADVISORYThe Department of Transportation (DOTr) is WARNING the public NOT TO ACCESS AND ENGAGE a malicious web page…
Working from home is still a preferred option but is not the panacea for dealing with the problems caused by the coronavirus, French finance minister Bruno Le Maire said on Monday (June 15), as France looks to speed up the re-opening of its economy.
“Working from home remains preferable, in the sense that it allows us to have a gradual return and can limit the circulation of the virus. But I’ve always considered that working from home was not the panacea,” Le Maire told France Info radio.
Even though many of France’s shops and restaurants have started to re-open, the major business districts of Paris remain empty as many employees are still working from home.
Le Maire also added that the state has begun to reduce its aid in covering partial unemployment benefits, to prompt companies to restart their activities. During the confinement period, the state covered 84 to 100 percent of salaries of furloughed employees.
He said working employees must be able to keep their purchasing power, to fuel consumption. (Reuters)
Energy ministers of the Group of 20 (G20) agreed on Friday to ensure the energy market’s stability, affordability and security in the face of the COVID-19 pandemic, according to a joint statement released after their virtual meeting.
Saudi Energy Minister Abdulaziz bin Salman Al Saud said that global financial as well as energy markets are facing the turmoil amid the dramatic economic impacts of the COVID-19 pandemic, thus member countries should work together to deal with the possible risks of energy security.
Besides, Russian Energy Minister Alexander Novak advocated the G20 to set up a special committee to monitor and coordinate cooperation in the global energy market.
Energy ministers of the G20 recognized that the spread of the pandemic has exacerbated the imbalance of energy supply and demand as well as the instability of energy markets, directly affecting oil and gas industries in a negative direction.
Member countries reached consensus on the importance of energy markets in the period of combating the pandemic and recovering economy, promising to joint efforts to ensure the stability of energy markets.
The G20 will establish a short-term focus group, with the task of monitoring the response measures and proposing policy suggestions in accordance with needs.
The G20 energy ministers will meet again in September as scheduled and be ready to hold emergency meetings if necessary.
In addition, the Organization of the Petroleum Exporting Countries (OPEC) and some other major oil producing countries on Thursday reached a tentative agreement to cut their overall production by 10 million barrels per day (b/d) for two months starting from May 1 to stop a market free-fall amid the novel coronavirus pandemic, pending the consent of Mexico.
Mexican President Andres Manuel Lopez Obrador announced on Friday that the U.S. has agreed to dedicate itself to reducing its own production to help Mexico cover the shortage of cuts to oil production required by the OPEC.
It is expected that the measures will increase the price of crude oil and help to stabilize the economy and the markets, noted the president. (Reuters)
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