The Head of the French Central Bank, Francois Villeroy de Galhau during an emerging markets conference in Paris said that the Group of Seven (G7) will be discussing the possibilities of crypto-asset regulations.
G7 is an inter-governmental political forum which includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Many people are hoping that G7 will finally release a regulatory framework for crypto. Reportedly, the Bank of Japan urged G7 to Fix Crypto Regulation Ambiguity.
Galhau, noting the recent instability in the crypto-assets market, claimed that what happened in the past shows that there is an urgent need for global regulation.
“Europe paved the way with MICA (regulatory framework for crypto-assets), we will probably discuss these issues among many others at the G7 meeting in Germany this week,” Galhau said.
