G7 discusses crypto, helps CBDC — Regulation Decoded, Might 15–22

Final week the committee, representing the 7 largest economies on this planet (G7), have met in Niigata, Japan to debate, amongst different matters, the worldwide monetary implications for central financial institution digital currencies (CBDCs) and the legal guidelines governing the switch of cryptocurrency belongings.

In a communique summarizing the discussions, the committee reiterated its assist for growing CBDCs, albeit with some reservations. Committee members additionally mentioned the controversial “Journey” rule requiring any monetary establishment processing cryptocurrency transactions over $3,000 to reveal the sender’s title, deal with and account info. And it expressed its complete assist for the initiative.

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