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He stated that he does not âquestion the reliability and traceability of all blockchain technology,â but denounced crypto.
French Finance Minister Bruno Le Maire, who once said Facebookâs Libra token would risk the "monetary sovereignty of states,â is continuing his criticism of cryptocurrencies.
In an Oct. 19 tweet, Le Maire 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 âquestion the reliability and traceability of all blockchain technology.âÂ
Cher @cyrilpaglino, nous ne remettons pas en cause la fiabilitĂ© et la traçabilitĂ© de toutes les technologies de la blockchain. Mais certaines cryptomonnaies ont pu ĂȘtre utilisĂ©es pour faciliter des transactions frauduleuses (drogue, armes, blanchiment) de maniĂšre anonyme. Nuance. https://t.co/m2YFNa9ipd
â Bruno Le Maire (@BrunoLeMaire) October 19, 2020
Le Maire was responding to Cyril Paglino, a general partner in crypto fund Starchain Capital, who said blockchain transactions had âno interest in terrorists.â Paglino referenced the recent FinCEN leak, which showed that many banks were in fact enabling money laundering.
This story is developing and will be updated.
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