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U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US … Read more
The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate standards, including the G7 public policy principle for retail CBDC,” said Japan’s Vice Minister … Read more
Officials of the U.S. Treasury Department will travel to Europe this month with the objective of getting more countries to apply punitive actions against Russia. The tour, which includes visits to Switzerland, Italy, and Germany, aims to stop the material support companies in these states provide Russia, threatening to cut trade if they don’t comply. … Read more
With the global economy looking gloomy and financial trade more restricted than ever before in history, government-mandated prices are seemingly coming back with a vengeance. Europe is suffering from significant financial hardships stemming from the Ukraine-Russia war, and just recently the Kremlin disrupted the European Union’s main gas supplies. Now members of the European Commission … Read more
There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch). 105 Countries Are Exploring CBDCs The Atlantic Council’s Geoeconomic Centre has released a major update to its Central Bank Digital Currency (CBDC) Tracker. According to … Read more
The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST. G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets The finance ministers and central bank governors from the … Read more
Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators. Go to Source Powered by WPeMatico
The Group of Seven (G7) countries issued a joint statement stating that they “will ensure that the Russian state and elites, proxies and oligarchs cannot leverage digital assets as a means of evading or offsetting the impact of international sanctions.” Meanwhile, the U.S. Treasury Department is “closely monitoring any efforts to circumvent or violate Russia-related … Read more
G7 countries and the European Union are examining ways to stop the use of cryptocurrency by Russia to evade sanctions. “We should take measures to prevent listed persons and institutions from switching to unregulated crypto assets,” said Germany’s minister of finance. G7 and EU Seek to Prevent Crypto Use to Evade Sanctions The Group of … Read more
Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted. State-issued coins should also ensure privacy, transparency, and data protection, the officials stated. The forum adopted 13 public policy principles for retail digital currencies and stressed that “CBDCs are not ‘cryptoassets.’” CBDCs Must … Read more
