G7 to Discuss Tightening Regulation of Cryptocurrencies
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March 28, 2023

Leaders of G7 countries plan to discuss tightening regulation of digital assets around the world at their next meeting.

According to Kyodo News, G7 representatives will consider a cooperation strategy to increase transparency in the cryptocurrency sector, improve consumer protection and eliminate potential risks to the global financial system.

The next G7 summit will be held in the Japanese city of Hiroshima in May this year.

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IMF managing director Kristalina Georgieva has previously said the organization would prefer to regulate cryptocurrencies, but does not exclude banning them if there are greater risks to financial stability.

In January, the European Parliament postponed the final vote on comprehensive regulation of crypto asset markets until April.

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The bill includes rules that apply to the issuers of stablecoins, trading platforms and custodian platforms.

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