Are Cryptos Paving the Path Towards a New World Order?

But if adopted and implemented, the first multinational cryptocurrency could be used by more than 41 percent of the world’s population. It could potentially improve trade efficiency among the Member States by replacing other fiat currencies used in trade settlements. And it could create a technologically resourceful trade block that could reshape global trade via Blockchain and smart contract technology.

However, for this initiative to succeed, among other things, Member State transnational legislation concerning cryptocurrencies would need to be updated in a synchronized fashion. As currently there are substantial differences between Member State legislation concerning cryptocurrencies as summarized in the table below.


[link to cointelegraph.com (secure)]


Le Maire’s office couldn’t provide details of what the rules could contain. Regulators worldwide are taking a harder stance on the currencies as their values have skyrocketed.

He also said President Emmanuel Macron’s government will ‘not cede anything’ as it presses internet giants to stop using tax havens and wants Europe to be more aggressive to compete with the U.S. and China.

A director at Germany’s central bank said any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community.

[link to metro.co.uk]