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.

Dec 7, 2020 at 4:28 p.m. UTC
Updated Sep 14, 2021 at 10:39 a.m. UTC

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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