The French right-wing party Front National seeks to ban the usage of virtual currencies including bitcoin in France as they want to protect the ‘real economy’ in the country.

Marine Le Pen, leader of the National Front said in a press release, published on May 26, that there is a serious threat as world leaders are seeking to create a world with no cash and have positioned bitcoin as an effort fueled by Wall Street power brokers.

She said in her statement, “The powerful business lobby Wall Street banks (JP Morgan, Goldman Sachs) relayed by the World Economic Forum in Davos in 2016, sold two ideas to states and institutions like the EU: virtual currencies or crypto - currencies (the best known is the Bitcoin) and a cashless society.”

She continued saying that digitization of money will result in broader financial monitoring by the world’s governments. She added that virtual currencies, and particularly Bitcoin, would allow French citizens to be held ‘hostage’ by private banks.

“Therefore, in the context of the implementation of its model of economic patriotism, the Front National will prevent the use of crypto-currencies such as Bitcoin in France,” said the release.

Marine Le Pen is the expected candidate in the 2017 French presidential election as recent polls suggest that the Front National party is expected to see a significant number of votes in the presidential elections.

The National Front is a socially conservative, nationalist political party in France. Its major policies include economic protectionism, a zero tolerance approach to law and order issues, and opposition to immigration.