{"id":12421,"date":"2022-05-21T12:42:55","date_gmt":"2022-05-21T12:42:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/g-7-finance-ministers-push-to-speed-up-global-crypto-regulations\/"},"modified":"2022-05-21T12:42:55","modified_gmt":"2022-05-21T12:42:55","slug":"g-7-finance-ministers-push-to-speed-up-global-crypto-regulations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/g-7-finance-ministers-push-to-speed-up-global-crypto-regulations\/","title":{"rendered":"G-7 Finance Ministers Push to Speed Up Global Crypto Regulations"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Following <a href=\"https:\/\/igaming.org\/crypto\/terra-blockchain-resumes-after-halt-biding-time\/\">last week\u2019s collapse<\/a> of the terraUSD stablecoin last week, the finance ministers from the Group of Seven (G-7) large developed economies are calling for faster global crypto regulations.<\/p>\n<p>The carnage in crypto markets last week, in which the Terra asset normally worth $1 tanked to as low as 7 cents, and Tether\u2019s USDT also losing its peg for a short period of time, has increased urgency for extra regulation.<\/p>\n<p>In a draft communique seen by Reuters, the finance ministers explained:<\/p>\n<blockquote>\n<p>\u201cIn light of the recent <a href=\"https:\/\/igaming.org\/crypto\/macro-guru-raoul-pal-explains-his-strategy-in-times-of-turmoil\/\">turmoil<\/a> in the crypto-asset market, the G7 urges the FSB (Financial Stability Board) \u2026 to advance the swift development and implementation of consistent and comprehensive regulation.\u201d<\/p>\n<\/blockquote>\n<p>The FSB, is based in Basel had previously promised to release a report on the regulation, supervision and oversight of global stablecoins for\u00a0<a href=\"https:\/\/www.fsb.org\/wp-content\/uploads\/P310322.pdf\">October<\/a>\u00a0this year. The Dutch head of the FSB, Klaas Knot, had<\/p>\n<p>Earlier this week, French central bank Governor Fran\u00e7ois Villeroy de Galhau cited recent market turbulence as evidence that <a href=\"https:\/\/igaming.org\/crypto\/it-is-time-to-redefine-stablecoins-ftx-ceo-sam-bankman-fried-says\/\">stablecoins are \u201cmisnamed\u201d and \u201cpossibly very unstable.\u201d<\/a> He also pushed for a global and interoperable approach for crypto supervision in order to avoid disrupting the international financial system<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/g-7-finance-ministers-push-to-speed-up-global-crypto-regulations\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Following last week\u2019s collapse of the terraUSD stablecoin last week, the finance ministers from the Group of Seven (G-7) large developed economies are calling for faster global crypto regulations. The carnage in crypto markets last week, in which the Terra asset normally worth $1 tanked to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12421"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12421"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12422"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}