The US Department of Treasury announced that all central bank officials and financial ministers of the G7 countries are supporting the idea of international cryptocurrency regulation.
US Treasury Secretary, Steven Mnuchin, hosted an online meeting on which the central bank governors and finance ministers from Germany, Italy, France, Japan, the U.K, Canada, and the European Commission were present.
The group discussed the growing popularity of a CBDC all over the world as well as privately owned digital currencies.
The German Finance Minister was the bluntest in his criticism of the new developments. He harshly criticized the upcoming launch of Facebook’s Diem stablecoin and insisted that Europe is not ready for a privately owned cryptocurrency.
Everyone present agreed that in this ever-evolving crypto market a clear regulatory market is very necessary to govern it.
Source
I think at this point such a push for proper regulation of the industry is not only inevitable but necessary as well.
US Treasury Secretary, Steven Mnuchin, hosted an online meeting on which the central bank governors and finance ministers from Germany, Italy, France, Japan, the U.K, Canada, and the European Commission were present.
The group discussed the growing popularity of a CBDC all over the world as well as privately owned digital currencies.
The German Finance Minister was the bluntest in his criticism of the new developments. He harshly criticized the upcoming launch of Facebook’s Diem stablecoin and insisted that Europe is not ready for a privately owned cryptocurrency.
Everyone present agreed that in this ever-evolving crypto market a clear regulatory market is very necessary to govern it.
Source
I think at this point such a push for proper regulation of the industry is not only inevitable but necessary as well.
