G7 Officials Stress Need to Regulate Digital Currencies: US Treasury

G7 Finance Ministers on Monday stressed they see a need to regulate digital currencies, according to a U.S. Treasury Department statement.

• 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