Marine Le Pen suggests ban on cryptocurrencies; French election results could impact Bitcoin

Golden Finance News - In the eyes of many investors, if a far-right leader wins the French election in May, it could be a fatal danger to the euro and even the European Union.

Far-right Le Pen supports France's exit from the EU. Image source: Golden Finance

Although opinion polls suggest Le Pen will lose the second round of Macron's election, support for Le Pen has generally been rising, causing investors to sell bonds, French bond yields to surge, and even Bitcoin to have an impact.

Following Brexit, some French politicians have proposed Frexit. As the French presidential election approaches, talk about Frexit has intensified. In this regard, some professionals believe that if France leaves the EU, it may have a positive impact on the price of Bitcoin.

During the 2017 French presidential election, many French politicians talked about Frexit, including presidential candidate Marine Le Pen, who said:

"The euro has been a burden on prices, a burden on jobs, and a burden on the competitiveness of French companies. The euro cannot protect anyone, contrary to the expected value of the euro. Without this common currency, France's economy may be much simpler."

On May 8th, Beijing time, the French people will cast their final vote in the country's presidential election. In the first round of voting, two of the 11 presidential candidates stood out, namely Le Pen and Emmanuel Macron.

Le Pen is opposed to Bitcoin. Image source: Golden Finance

Far-right Le Pen, who favours France's exit from the EU, has said the euro could be replaced by a basket of new national currencies and has also considered capital controls.

Macron, another candidate competing against Le Pen, has a neutral attitude towards this and is in favor of reforming the European Union to avoid France's exit from the EU.

According to foreign media reports, Le Pen is opposed to Bitcoin and has been suggesting a ban on cryptocurrencies, while Macron supports Bitcoin digital currency experiments and the use of blockchain technology.

For example, Brexit in June last year, if France eventually withdraws from the European Union, it will have a boosting effect on the price of Bitcoin.