According to finance ministers representing the world’s seven largest economies, regulation of stablecoins should follow the same standards as in the traditional financial sector.
G7 finance ministers issued a statement following the TerraUSD (UST) crisis combating money laundering More work should be done within the scope of, in addition, crypto money institutions Be more transparent about your reserves they said needed.
In a news we shared yesterday, the G7 finance ministers accelerating cryptocurrency regulations We have stated that we have made a call to the Financial Stability Board (FSB) for
In a statement released by the G7, “The G7 is the standard in the regulation of global stablecoins. keeping it high is determined to do so.” statement was included.
G7 ministers, especially notification of underlying assets used to support stablecoins stresses that more work needs to be done in this regard.
The statement was also prepared by the Financial Action Task Force (FATF) within the scope of combating money laundering. travel rule called for its implementation.