Germany joined European governments pushing for global bitcoin regulation amid mounting alarm that the world’s most popular digital currency is being used by money-launderers, drug traffickers and terrorists.

Bloomberg reports that French Finance Minister Bruno Le Maire is going to ask his counterparts in the Group of 20 to consider joint regulation of bitcoin, with Germany’s Finance Ministry backing the proposal.

The concerns over Bitcoin are shared by the Italian government, which is also open to discussing regulation.

“It makes sense to discuss the speculative risks of virtual currencies and their impact on the financial system at international level,” noted the German Minister of Finance.

According to him, the next meeting of G-20 finance ministers and central bank governors would be “a good opportunity to do so.”

“I don’t like Bitcoin. It can hide activities such as drug trafficking and terrorism. There is an obvious speculative risk, we need to look at it, study it,” said Minister Le Maire.

Bloomberg also noted that two Nobel economics laureates had denounced Bitcoin. Joseph Stiglitz said it should be outlawed, and doesn’t serve “any socially-useful function”. Robert J. Shiller said the attraction of the currency was a narrative akin to a “mystery movie” that draws in people who want to outsmart the system.

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