Finance Minister of France proposed to ensure the transparency of all digital transactions

Home » FINTECH » Finance Minister of France proposed to ensure the transparency of all digital transactions
2018-07-24
Photo: 90252380 - stack of bitcoin coins on eu flag. situation of bitcoin and other cryptocurrencies in european union concept. 3d rendering
Finance Minister of France proposed to ensure the transparency of all digital transactions

Finance Minister of France Michel Sapin proposed to ensure the transparency of all digital transactions, expressing the hope that this would create a sufficient counterweight to the financing of terrorism.

In particular, Sapen called for creating common rules for all EU member states. In his opinion, this will allow to jointly fight against the financing of terrorism, which, he claims, is implemented through innovative solutions like the digital currency.

“It is not necessary to prohibit technologies that are used for evil. We need to understand what can be done to make transactions transparent. It depends on the quality of information exchange between countries, ” Sapen said.

Earlier EU finance ministers gathered in Brussels to discuss France’s initiative to more effectively monitor and prevent the sponsoring of terrorism in the territory of the European Union. The ministers agreed that cooperation in this struggle is “priority number one”.

The final communiqué recommended the establishment of national centralized registers of bank accounts, which, in particular, the police will be able to access when tracking terrorists. In addition, France called for personal checks on “anonymous” transactions and general tightening of rules for electronic and digital currencies.

“Terrorists can use all these new technologies to send money anywhere,” Sapen said at the time.

According to Sapen, the financing of terrorism, so as not to attract excessive attention, is carried out mainly by transactions in small amounts.

“To avoid attacks, we need to strengthen control over such small transactions,” he said.

CRYPTOCURRENCIES
  • bitcoinBitcoin$4,040.91
  • ethereumEthereum$138.62
  • rippleXRP$0.316357
  • tetherTether$1.00
  • eosEOS$3.70
  • stellarStellar$0.110308
  • litecoinLitecoin$59.91
  • cardanoCardano$0.053066
  • tronTRON$0.022703
  • moneroMonero$53.94
  • iotaIOTA$0.297309
  • nemNEM$0.049732
  • dashDash$91.66
  • neoNEO$9.23
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 40
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 40
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 39
Anton Vokrug, the CEO of DataTrading, about the financial markets and cryptocurrencies
The topic of cryptocurrency regulation will be actual for several more years in Ukraine. The Government of Ukraine has already taken steps towards the adoption of relevant cryptocurrency-related laws. In particular, the Ukrainian officials work on the legalization of the project “The Concept of State Policy in the Field of Virtual Assets”. However, what does the regulation really mean […]
2019-02-27 0 140
© 2017–2018