The Ministers of Finance and the Heads of the Central Banks of the G7 countries agreed to develop and distribute uniform cryptocurrency regulation rules to the whole world. This was announced on Wednesday by US Treasury Secretary Stephen Mnuchin in an interview with CNBC.
I can say that there is a 100% agreement between the finance ministers and the heads of the G7 central banks, that we will establish rules for regulating cryptocurrencies around the world. We will act as guarantors of the fact that cryptocurrencies will not be used for illegal operations, said Mnuchin.
According to him, all cryptocurrencies in the US are subject to regulation.
There is a working group that includes representatives of all regulators: the Fed, the Office of the Comptroller of the Currency, the Bureau of Financial Consumer Protection, the Commodity Futures Trading Commission. We are going to develop a unified approach, he explained.
Mnuchin also noted that the government had warned Facebook about the necessity of compliance of their own Libra cryptocurrency with the laws of the United States.
As for Libra, we made clear to Facebook that before they start all this, their cryptocurrency will have to go through all the checks.
The minister stressed, adding that the United States has the support of all the G7 countries on this issue.