The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST.The finance ministers and central bank governors from the Group of Seven industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20.
“The G7 supports work by the Financial Stability Board to monitor and address financial stability risks arising from all forms of crypto-assets, and welcomes increasing global cooperation to address regulatory issues associated with the use of crypto-assets, including in cross-border payments,” according to the communique summarizing the finance leaders’ key decisions, published Friday.
“In particular, the G7 calls for rapid implementation of the Financial Action Task Force ‘travel rule’ and stronger disclosure and regulatory reporting, for instance, as regards reserve assets backing stablecoins,” the finance leaders continued, adding: “The G7 remains committed to high regulatory standards for global stablecoins, following the principle of same activity, same risk, same regulation,” the communique concludes.
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I can't believe that as a society, we allow these corrupt people to tell us what to do. While they fill up their pockets and the ones of their friends.
Not good
Luna in short term will at least hit 0.01$. and that figure is enough to make you a millionaire. LUNA LUNAtics
Unless they're planning to upgrade the user experience of their slaves (us) for the money they extort from them (positive rumors yet to be witnessed), I'd be very averse to anything these crooks propose ... They're losing control over their protection racket and they know it!
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About bloody time
G7 countries? Really? The US is the only G7 country that has been hostile to crypto. The others are all supportive.
CST
CST
They need to regulate stablecoin
Hydra has reared its fat gray ugly head
So now we know why the collapse of Luna was needed.
Regulatory issues? Bullshit. Translation: Like good little leftists we won’t let the LUNA crisis go to waste. We will now try to control, profit from, tax, and destroy any threat to our global monetary cabal.
We all want South Korea to sue for the theft of the Luna project. Join this campaign. South Korean Supreme Court
Its funny when you realize that 3 years ago, world leaders and institutions were not even considering crypto as an agenda. 3 years after, they are now pushing for regulations!
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This is how you know the luna/ust was staged. Pretext. Wake up fools.
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That's why i have always said join me in mining
Btw that bunch of old creatures should go to pension 10 years ago.
G7 will be decentralize
bitcoin is a G21 mil and doesn't give a fuck about G7.
Institutions always say something about this regulation, I wonder who they expect to do it. I can't solve public institutions.
Wow...dinosaurs.
Look at all those pedophiles in one place at the same time! Really something
The only issuer of a stable coin should be the government that issues the pegged currency. Any coin that has a known founder (centralization) and a pre mine and especially a marketing team, is a security, subject to all applicable securities regulations. Done.
Call that may make crypto mainstream
Fuck the G7 Bitcoin is now the F8Billion.
I would like to offer a counter proposal to EndTheFed and revoke the legal authority of gov regulators due to the systemic risk of regulatory capture and a complete lack of trust in their 'leadership'.
Regulations means more to the bottom? Bearish continue?
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Regulation proves validation
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if you are a smart person you will notice it this is why bitcoin crashed
You can’t regular bitcoin
Do something for Gods Sake
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