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Concerned about the speculative risk, the French finance minister called for the next G20 summit to discuss Bitcoin regulatory issues


French Finance Minister Bruno Le Maire said on Sunday that they would propose major G20 group economies to discuss the regulation of virtual currencies such as bitcoin in next year's meeting .

Le Maire said:


I will propose to Argentina, the next G20 presidency, that we will jointly discuss the issue of bitcoin during the summit in April next year.
Obviously there is speculative risk. We need research and consideration ... to discuss how to regulate Bitcoin with other G20 members.
Since the beginning of this year, the price of bitcoin has risen by more than 1700%. Many people are worried that it will trigger a market bubble and cause a wide-range crash.

Last Friday, EU nations and the legislature had finalized a more stringent regulation on bitcoin and other virtual currencies trading platforms to prevent money laundering and terrorist financing.

The common concern for bitcoin is bubble theory. This year, as bitcoin moves from $ 1,000 to $ 10,000, there is increasing debate about whether this cryptocurrency is bubble .

Some people think that bitcoin is not endorsed by the government and is easily dominated by the market. Most of the participants hold the speculative purpose and therefore easily collapse. Some people think that the value of bitcoin is anti-censorship, and its transparency and efficiency are traditional systems incomparable.
As for the future trend of Bitcoin how exactly is still unknown. However, we can be sure that bitcoin has attracted the attention of more and more mainstream countries. Most countries are also embracing the purpose of encouraging innovation and have started to ease the regulatory policies, I believe this will help the smooth development of bitcoin in the future, can reduce friction.