The central bank governor and finance minister from the Group of Seven, or G7, are reportedly planning to discuss regulation of cryptocurrency. cryptocurrencies
According to a Reuters report on Tuesday, French Central Bank Governor François Villeroy de Galhau saidRepresentatives from the United States, Canada, Japan, Germany, France, Italy and the United Kingdom. are likely to speak on issues related to the regulatory framework for cryptocurrencies at a meeting in the German cities of Bonn and Königswinter that starts on Wednesday. Villeroy reportedly said that the recent volatility in the crypto market, which likely meant some stablecoins lost value to the US dollar and the declining price of the main tokens, was “a spur of the moment.” “Awakening” for regulators around the world
“Europe paves the way with MiCA,” Villeroy said at the Emerging Markets Conference in Paris. Referring to European Parliament legislation aimed at creating a regulatory framework on crypto, “we may [… ] Discuss these issues among others at the G7 meeting in Germany this week.”
“Crypto assets may disrupt the international financial system. If not controlled, supervised and worked together in a consistent and appropriate manner across jurisdictions.”
According to the G7 website, the finance minister and central bank governor willmeetin Germany from May 18-20 to discuss policies related to the recovery of member states and financial stability due to the COVID-19 pandemic.
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