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France and Germany said Thursday plan to make a joint proposal on regulating bitcoin at a meeting of finance ministers from the G20 countries.
"We have the same concerns and we share the goal of regulating bitcoin," French Finance Minister Bruno Le Maire said at a joint press conference with his German counterpart Peter Altmaier.
Le Maire has tasked a former deputy governor of the Bank of France to come up with proposals.
He said that "These proposals on regulation will be submitted as joint French-German position to our G20 counterparts" at their mid-March meeting in Buenos Aires.
The Group of 20 nations, which was born during the 2008 financial crisis, has focused on the global economy.
For his part, Altmaier said "we have a responsibility to our citizens to explain the risks and reduce the risks by regulations which are needed."
Their promise to develop regulations came a day after a sharp drop in the value of bitcoin, which fell through the 10,000 US dollars level for the first time since November after authorities in China and South Korea cracked down on cryptocurrencies.
But the price of bitcoin has slightly rebounded by 1.29 percent to 11,398 US dollars by press time, according to CoinMarketCap.
(AFP)
