Crypto News : G-7 Finance Ministers Discuss Crypto Regulation Ahead of Japan Summit Next Week
Representatives for the seven advanced economies signaled a commitment to following norms set by standard-setters FSB and IMF on crypto and central bank digital currencies.
The Group of Seven (G-7) intergovernmental political forum has signaled its commitment to implementing the Financial Stability Board’s (FSB) forthcoming norms for regulating crypto assets and the International Monetary Fund’s (IMF) recommendations on central bank digital currencies.
The group’s finance ministers and central bank governors announced they had discussed crypto asset supervision at a Saturday meeting in Niigata, Japan ahead of the G-7 summit next week. Japanese Prime Minister Fumio Kishida, the summit’s host this year, has said G-7 leaders are set to state their joint support for tougher crypto rules.
India, as the president of the G-20, has been pushing for globally coordinated crypto rules. In February, the group said forthcoming global crypto norms will be based on a new synthesis paper jointly produced by the IMF and the FSB. The G-7 has indicated it will follow the standards set by the FSB.
Read More: https://www.coindesk.com/policy/2023/05/15/g-7-finance-ministers-discuss-crypto-regulation-ahead-of-japan-summit-next-week/
