G7 meeting was held recently and the digital assets seem to be the major focus as it has been quite popular in 2020. World Governments are now <a href="https://home.treasury.gov/news/press-releases/sm1203" target="_blank" rel="nofollow noopener">seeking</a> more rules for cryptocurrency as the sector needs more regulations. Also, the United States Department of the Treasury has given a public statement on Monday about the issues covered in the meeting. According to the department, there were a lot of discussions about crypto and digital assets along with many other issues.
<h2>G7 Countries Supports Joint Statement on Crypto Regulations</h2>
Being the topic of major focus, digital assets have been discussed to a very great extent in the meeting. It has been seen that World Governments have shown their concern and completely supports the joint statement of G7 on digital payments. As per the statement from the U.S. Treasury Department:

“There is strong support across the G7 on the need to regulate digital currencies. Ministers and Governors reiterated support for the G7 joint statement on digital payments issued in October.”

However, in the past few months, there have been huge discussions regarding the crypto industry and crypto regulators are stepping up to make a better regulatory framework. 
<h2>Concerns About Facebook’s Libra-Turned-Diem Asset</h2>
All the members of the G7 meeting were quite concerned about digital assets and some were also concerned about Facebook’s Libra-turned-Diem asset. Moreover, the finance minister of Germany has termed <a href="https://www.cryptoknowmics.com/news/facebook-to-solve-hard-challenges-faced-by-libra/">Diem</a> asset as a wolf in sheep’s clothing. 

Another major reason why cryptocurrency was in major focus during this meeting is that Bitcoin has been performing really well. From the past few weeks, the Bitcoin price is increasing very impressively and it has also reached its new all-time high recently. Hence, this agreement over regulations by the World Governments is a major one for the crypto and digital assets industry.

World Governments Seeking More Crypto Regulations, Discussed at G-7 Meeting

World Governments are now seeking more rules for cryptocurrency as the sector needs more crypto regulations as discussed during the G7 meeting.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

World Governments Seeking More Crypto Regulations, Discussed at G-7 Meeting

Top Picks