Policymakers from the Group of Seven advanced nations agreed to collectively coordinate scanning for early warning signs that may tip competition in digital markets.
Stablecoins Pose ‘Existential Threat’ to Policy Sovereignty, Says India Central Bank Official: Report
“If large stablecoins are linked to some other currency, there is a risk of dollarization,” RBI Deputy Governor Rabi Sankar has said.
Stablecoin Regulation Is a Sticking Point Between the G-7 and G-20
Global leaders appear to have reached a consensus on setting up universal rules and standards for most aspects of the crypto sector save for the treatment of stablecoins.
Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month: Report
Earlier this month, global financial crimes watchdog FATF urged G-7 economies like Japan to lead by example to implement its controversial “travel rule” for crypto transfers.
G-7 Will Push for Tighter Global Crypto Regulations: Kyodo
Discussions on a global framework will speed up ahead of a May meeting of finance ministers and central bankers.
Canada Close to Tightening Rules for Crypto Exchanges: Sources
Later this month, Canada’s umbrella markets regulator, the Canadian Securities Administrators (CSA), will tighten requirements for cryptocurrency exchanges operating in the country, according to two people who have been briefed on the plans.
Global financial regulators will discuss crypto at G7: Report
Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators.
G7 leaders issue central bank digital currency guidelines
Financial leaders from the G7 agree that CBDCs would complement cash and should not be detrimental to the monetary system.
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.
Bank of Canada Governor Says Digital Dollar Project Moving Past Trial Stage
Tiff Macklem said Canada’s digital dollar initiative is progressing past the experimental phase and that the G7 needs to coordinate on digital currencies.
FSB Recommends Stablecoin (Libra) Safeguards as G7 Continues Blockade
Finance officials never once named Libra. But they didn’t have to; the proposed stablecoin’s shadow still loomed.
G7 Warns of Crypto Threat From Tidal Wave of Ransomware Attacks
Paying ransomware hackers to decrypt infected computers doesn’t always work, and may even be a crime in some countries.
Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan
The group of lawmakers fears that the digital yuan could create economic disruption if it starts to replace the greenback in international markets.
6 Central Banks Form Digital Currency Use Case Working Group
The working group will pool research into CBDCs.
FATF Joins BIS in Calling Stablecoins ‘Global Risk,’ Citing Money Laundering Concerns
Stablecoins pose a money laundering and terrorist financing risk to the world, the FATF said Friday.
Bitcoin Has Failed But Global Stablecoins a Threat, Say BIS and G7
A new report says bitcoin has failed as a means of payment or store of value, but stablecoins like Libra are a risk to financial stability.
Facebook Libra Risks to Financial Stability Demand ‘Highest’ Regulatory Standards, Says G7
The G7 group of nations has warned of the threat posed by stablecoins such as Facebook’s Libra and set out draft recommendations for regulation.
Japan Creates Working Group to Discuss Facebook Libra Ahead of G7 Meeting
Japan has set up a working group to examine the issues raised by Facebook’s Libra cryptocurrency project ahead of a G7 meeting this week.
G7 Forming Task Force in Response Facebook’s Libra Cryptocurrency
France is setting up a task force within the Group of Seven nations to examine regulatory issues raised by Facebook’s Libra cryptocurrency.