France Creates “Digital Currencies Mission”

The new mission will be responsible for proposing guidelines on the evolution of regulations and to better control development
16 January 2018   787

The Minister of the Economy Bruno Le Maire announced on Monday that the country is creating a “digital currencies mission” and a working group led by Jean-Pierre Landau, the former BOF deputy governor, that will study digital currencies while also proposing regulatory standards.

We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin. I asked the Argentine G20 members to take up this issue and I have now entrusted Jean-Pierre Landau, the former deputy governor of the Banque de France, to complete a mission concerning cryptocurrencies.

 

Bruno Le Maire

The Minister of the Economy of France

According to the announcement, 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.

The former BOF deputy governor Landau is an opponent of cryptocurrencies. He has displayed his attitude to bitcoin publicly writing an opinion piece for the Financial Times in 2014.

The currency is at present attractive for two reasons — One is anonymity, which makes it suitable for tax evasion and money laundering — This will not last; authorities are already wising up.

 

Jean-Pierre Landau

The former deputy governor of the Banque de France

In early December we have reported that Robert Ophele, the chairman of French market regulator, called Bitcoin a “dangerous illusion” and a tool for criminals.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   114

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.