While the regulation of Bitcoin and cryptocurrencies continues to be at the focal point of the countries, crypto regulations are also on the agenda of the G7 countries.
According to the news of Coindesk, finance ministers and central bank governors of the G7 countries met in Niigata, Japan, ahead of the G-7 summit to be held next week.
At the meeting, officials revealed that they support stricter cryptocurrency rules.
G7 officials, who discussed crypto regulations at this meeting, signaled that they are ready to implement the Financial Stability Board (FSB) upcoming rules to regulate crypto assets and the International Monetary Fund (IMF) recommendations on central bank digital currencies (CBDC) .
The statement included the following:
“We look forward to the FSB finalizing its rules on crypto by July 2023.
We are committed to implementing the FSB's recommendations and standards as effective regulatory and supervisory frameworks for cryptocurrency activities and markets and stable currency regulations."
Japanese Prime Minister Fumio Kishida, the host of the G7 summit this year, has stated in previous statements that he will support stricter crypto rules, which is the common idea of the G-7 leaders.
The G7 consists of seven countries: Germany, USA, UK, Italy, France, Japan and Canada, with the European Union also represented in the G7.
