Le Maire

Le Maire Supports Blockchain Over Crypto

Le Maire, France’s finance minister has made known his stance on crypto and blockchain. While he agrees to be in support of blockchain’s reliability, transparency and traceability feature but rejects the idea of crypto.

French Finance Minister Bruno Le Maire, who once said Facebook’s Libra token would risk the “monetary sovereignty of states,” is continuing his criticism of cryptocurrencies.

In an Oct. 19 tweet, the finance minister claimed some cryptocurrencies are associated with purchasing drugs and weapons in addition to being used for money laundering. However, he also wrote that he does not “question the reliability and traceability of all blockchain technology.” 

Le Maire was responding to Cyril Paglino, a general partner in crypto fund Starchain Capital, who said blockchain transactions had “no interest in terrorists.” Paglino referenced the recent FinCEN leak, which showed that many banks were in fact enabling money laundering.

This article is sourced from:https://cointelegraph.com