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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.

Regulation G7

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.