This week, a meeting of financial ministers and heads of central banks of the Big Seven (G7) countries will be held, at which they will discuss the regulation of cryptocurrencies.
About it informs Reuters referring to the head of the Central Bank of France, Francois Villeroy de Galhau. Perhaps the impetus for discussion of regulation was the special operation of Russian troops in Ukraine and the fears of Western officials about the use of digital assets by Russian citizens to circumvent sanctions.
“Recent events have given us a clear and troubling message about the urgent need for global regulation. Europe has already worked on this issue under the MICA (regulatory framework for cryptoassets) and we will probably discuss it at the G7 meeting in Germany this week,” said de Gallo.
Also, one of the reasons for discussing the regulation of cryptocurrencies could be the collapse of the Terra ecosystem and the decoupling of the UST stablecoin from the US dollar. The popularity of stablecoins has long worried Western officials and economists. Earlier it was reported that the ministries of finance of the G7 countries are monitoring attempts to circumvent the sanctions imposed on Russia with the help of cryptocurrencies.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
