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G7 Officials Stress Need to Regulate Digital Currencies: US Treasury
The U.S. Treasury Department issued a statement following a virtual call with other G7 members.
Updated Sep 14, 2021, 10:39 a.m. Published Dec 7, 2020, 4:28 p.m.
G7 Finance Ministers on Monday stressed they see a need to regulate digital currencies, according to a U.S. Treasury Department statement.
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- U.S. Treasury Secretary Steven Mnuchin hosted a virtual discussion Monday morning with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K, the European Commission and the finance ministers from the eurozone.
- The attendees talked about responses to the ever-changing landscape of cryptocurrencies and other digital assets as well as government efforts to prevent their use for illegal purposes, according to the statement.
- "There is strong support across the G7 on the need to regulate digital currencies," the statement read.
- The ministers and governors also discussed domestic and international economic responses underway and strategies to achieve a robust recovery throughout the global economy, the statement said.
See also: G7 Forming Task Force in Response to Facebook’s Libra Cryptocurrency
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