France, Germany to make joint bitcoin regulation proposal at G20 summit

France and Germany will make joint proposals to regulate the bitcoin cryptocurrency at the next summit of the G20 group of major economies in Argentina in March, French Finance Minister Bruno Le Maire said on Thursday.

"We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March," Le Maire told reporters.

The world`s biggest and best-known cryptocurrency has fallen to half its record peak of almost $20,000 in recent days on fears that regulators could seek to curb speculation.

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"We have a responsibility towards our citizens to explain and reduce the risks," Le Maire`s German counterpart Peter Altmaier said at the joint news conference in Paris.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)