The G7 finance ministers of the world’s seven largest developed nations have demanded that crypto assets be treated at the same level as the rest of the financial system.
“The G7 is committed to the highest standards of global Stablecoins by following the same activities, the same risks, the same rules,” the G7 said in a statement.
The statement added that the Financial Stability Board was asked to speed up its operations following last week’s collapse of Stablecoin, terraUSD (UST) and said there should be stricter rules to prevent financial fraud. And the revelation of the backup stock.
In other news, European Central Bank President Kratos has called for an immediate end to hostilities.
Christine Lagarde told Dutch television in an interview with Moneycontrol that crypto currencies are “baseless” and questionable.
She added: “She is concerned about people who are not aware of the dangers, who are losing everything and who are very upset; That is why I believe this should be controlled.
She added: “My very humble assessment is worthless, it is not based on anything, there is no property that serves as an anchor.”
Over the past 24 hours, the Bitcoin price has fallen 3.80 percent in the cryptocurrency market, trading at $ 29,257.19 at 5’s on 15 pm IST.
Over the past 24 hours, Ethereum (ETH) traded at $ 1,969.31, down 4.12 percent. SOL fell 7.05 percent to $ 49.44, while ADA fell 2.22 percent to $ 0.5272.
Dogecoin traded at $ 0.083820, down 3.85 percent on Coinmarketcap.com. Rivals Shiba Inu fell 3.95 percent and traded at $ 0.000012.