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.

By Tanzeel Akhtar

Dec 7, 2020 at 4:28 p.m. UTC

Updated Sep 14, 2021 at 10:39 a.m. UTC

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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.

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