{"id":4508,"date":"2018-02-11T02:52:58","date_gmt":"2018-02-11T02:52:58","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=4508"},"modified":"2018-02-11T02:52:58","modified_gmt":"2018-02-11T02:52:58","slug":"french-german-ministers-spread-fud-crypto-currencies","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/french-german-ministers-spread-fud-crypto-currencies\/","title":{"rendered":"French &#038; German Ministers Spread FUD About Crypto Currencies"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2009 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/bitcoin.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>Prominent legislators from France and Germany has <a href=\"https:\/\/www.rt.com\/business\/418390-france-germany-bitcoin-clampdown\/\">sent out a letter<\/a> to G20 finance ministers calling for a clampdown on Bitcoin and other crypto currencies. The letter, signed by French Finance Minister Bruno le Maire and Peter Altmaier, the interim finance minister of Germany, along with the heads of the two countries\u2019 central banks, argued that <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">crypto currencies<\/a> have <strong>\u201climited\u201d<\/strong> implications for global financial stability.<\/p>\n<p>While pointing out the pace at which crypto tokens gain market capitalization, in addition to the creation of new financial instruments, the letter called for close monitoring of the developments in the crypto currency arena.<br \/>\nThe letter further argued that crypto currencies are mislabeled as \u2018currencies\u2019 in the media and on the internet. Further, the letter said <strong>\u201clack of clarity\u201d<\/strong> about the nature of tokens <strong>\u201ccan only fuel speculation.\u201d<\/strong><\/p>\n<p>The letter also called for greater protection for retail investors. According to the ministers \u201cthe buildup of individual exposures to such volatile tokens could have damaging consequences for misinformed investors who do not understand the risks they are exposing themselves to.\u201d<\/p>\n<p>The letter reflects the growing fear among authorities from the rapidly growing popularity of crypto currencies, which is already threatening the bastion of traditional financial institutions. Twice this week, top officials from Europe have expressed their discontent about the rising popularity of Bitcoin and other crypto currencies.<\/p>\n<p>On Thursday, Yves Mersch, European Central Bank board member, said, <strong>\u201cnot money, nor will they be for the foreseeable future.\u201d<\/strong><\/p>\n<p>Additionally, <a href=\"https:\/\/www.legitgambling.com\/news\/agustin-carsten-bank-international-settlements-call-preemptive-strike-cryptos\/\">Agustin Carstens, chief of the Bank for International Settlements,<\/a> said \u201cBitcoin is a combination of a bubble, a Ponzi scheme and an environmental disaster.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prominent legislators from France and Germany has sent out a letter to G20 finance ministers calling for a clampdown on Bitcoin and other crypto currencies. The letter, signed by French Finance Minister Bruno le Maire and Peter Altmaier, the interim finance minister of Germany, along with the heads of the two countries\u2019 central banks, argued [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68],"tags":[],"class_list":["post-4508","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>French &amp; German Ministers Spread FUD About Crypto Currencies<\/title>\n<meta name=\"description\" content=\"Prominent legislators from France and Germany has sent out a letter to G20 finance ministers calling for a clampdown on Bitcoin and other crypto currencies. The letter argued that crypto currencies have \u201climited\u201d implications for global financial stability.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/french-german-ministers-spread-fud-crypto-currencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French &amp; German Ministers Spread FUD About Crypto Currencies\" \/>\n<meta property=\"og:description\" content=\"Prominent legislators from France and Germany has sent out a letter to G20 finance ministers calling for a clampdown on Bitcoin and other crypto currencies. The letter argued that crypto currencies have \u201climited\u201d implications for global financial stability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/french-german-ministers-spread-fud-crypto-currencies\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-11T02:52:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/bitcoin.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"French &#038; German Ministers Spread FUD About Crypto Currencies\",\"datePublished\":\"2018-02-11T02:52:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/\"},\"wordCount\":275,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/bitcoin.jpg\",\"articleSection\":[\"Bitcoin\",\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/\",\"name\":\"French & German Ministers Spread FUD About Crypto Currencies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/french-german-ministers-spread-fud-crypto-currencies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/bitcoin.jpg\",\"datePublished\":\"2018-02-11T02:52:58+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Prominent legislators from France and Germany has sent out a letter to G20 finance ministers calling for a clampdown on Bitcoin and other crypto currencies. 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