G7 calls for swift regulation of crypto assets

The world’s top financial leaders has called for the swift and comprehensive regulation of cryptocurrencies.

The call for regulation follows the demise of the Terra stablecoin last week.

“In light of the recent turmoil in the crypto-asset market, the G7 urges the FSB (Financial Stability Board)…to advance the swift development and implementation of consistent and comprehensive regulation,” finance ministers and central bankers from the Group of Seven industrialised nations said.

The G7 are meeting in Koenigswinter, near Bonn (Germany), on Thursday and Friday.