Crypto assets discussed during G7 meeting, says U.S. Treasury Department
December 7, 2020, 11:27AM EST
1 min read
Central bank officials and finance minister from the Group of 7 nations discussed crypto assets during a meeting, the Treasury Department said Monday.
According to a readout from U.S. Treasury Secretary Steve Mnuchin, the conversation primarily focused on the coronavirus pandemic but touched on other topics, including crypto assets.
As the statement noted:
"They also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets and national authorities’ work to prevent their use for malign purposes and illicit activities. There is strong support across the G7 on the need to regulate digital currencies. Ministers and Governors reiterated support for the G7 joint statement on digital payments issued in October."
The Treasury Department under Mnuchin has pursued a number of crypto initiatives, primarily through the Office of the Comptroller of the Currency.
In February, Mnuchin said that additional regulatory releases were in the works, and recent comments from Coinbase CEO Brian Armstrong indicated that exchange firms are aware of additional regulatory guidance on the horizon.
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Bloomberg reported Friday that a broad U.S. government investigation into the operator of crypto exchange Binance has widened to include "whether Binance or its staff profited by taking advantage of its customers."
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