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Swift Crypto Assets' Regulation Needed: G7 Countries' Draft
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G7 countries urge swift regulation of crypto assets - draft
The world's top financial leaders called on Thursday for the swift and comprehensive regulation of cryptocurrencies following turmoil that has seen the demise of the Terra stablecoin last week, a draft communique showed on Thursday.
"In light of the recent turmoil in the crypto-asset market, the G7 urges the FSB (Financial Stability Board)...to advance the swift development and implementation of consistent and comprehensive regulation," finance ministers and central bankers from the Group of Seven industrialised nations said in the document.
They were meeting in Koenigswinter, near Bonn in Germany, on Thursday and Friday.
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