Finance ministers from countries including the UK, US, and Germany just called for tougher rules on reporting reserves, after the collapse of stablecoin UST last week. jackschickler reports.
Crypto assets should be held to the same standards as the rest of the financial system, the grouping of finance ministers from the world's seven largest developed economies has said.called for tougher rules to counter money laundering and disclose reserves, after the collapse of stablecoin terraUSD last week.
"The G7 remains committed to high regulatory standards for global stablecoins, following the principle of same activity, same risk, same regulation," it said. The statement confirmed reports that the Financial Stability Board has been asked to speed up work in the wake of the market shock. The missive also called for implementation of the Financial Action Task Force travel rule, a controversial anti-money laundering provision that jurisdictions such as the European Union are currently legislating for, and for"stronger disclosure and regulatory reporting, for instance, as regards reserve assets backing stablecoins."
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Shopify Expands Crypto Payment Options With Crypto.com Pact.Shopify has expanded crypto payment options for merchants through a pact with cryptocom, mikeybellusci reports.
Les mer »
Babel Finance and FQX target bond market with crypto 'eNote' debutThe proof-of-concept transaction demonstrates crypto's potential to enter the $100 trillion global bond market.
Les mer »
Gensler tells Congress that the SEC is 'really out-personed' on cryptoSecurities and Exchange Commission chair Gary Gensler told a Congressional subcommittee Wednesday that his agency needs more human resources as it looks to regulate the US crypto space.
Les mer »
CZ: Binance Wants to Apply for a Crypto License in GermanyChangpeng Zhao announced that Binance's next expansion target is Europe's largest economy - Germany.
Les mer »
New survey sheds light on people's concerns about investing in cryptoA recent study by Coupon Follow found that the majority of people who haven't invested in cryptocurrency cite worries such as volatile value and restricted applications, environmental impact, as well as regulatory concerns.
Les mer »