French right-wing party representatives call on the European Parliament to tighten regulation of Bitcoin

Three representatives from the French right-wing party proposed a motion last month, suggesting that the European Parliament give member states the power to regulate or even ban Bitcoin-related activities. The three authors of the motion are Dominique Bilde, Sophie Montel, and Florian Philippot, all from the French National Front (Front National), who joined the European Parliament in 2014 and became members of the European Parliament.

According to a copy of the bill published on the European Parliament's website, the specific submission date is November 25.

They want to seek approval from the European Commission, the EU’s executive arm, to “allow member states to impose stricter controls on all virtual currency transactions, or even ban them.”

The reason is that the Russian government recently said it would restrict transactions involving so-called "currency substitutes" (including Bitcoin). However, in October, the European Court of Justice ruled that Bitcoin transactions would be exempt from VAT.

The motion further states that “Bitcoin’s anonymity creates great risks,” so it is necessary to restrict Bitcoin trading activities, while also claiming that digital currencies “have certain similarities to Ponzi schemes.”

The three deputies are not the only figures in French politics to call for stricter regulation of digital currency-related activities.

Speaking to reporters ahead of last week's UN Security Council meeting on terrorism financing and Islamic State, French Finance Minister Michel Sapin said he would push for tighter oversight of bitcoin trading activities.

According to Reuters, Sapan said:

"Terrorists no longer use cash, they can use all new technologies to transfer funds, so we (European countries) need to establish a common set of rules in this regard."

Original article: http://www.coindesk.com/french-right-wing-reps-seek-bitcoin-control-powers-european-parliament/
By Stan Higgins
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/representatives-a-motion)