G7 Finance Minister Supported the Regulation of Cryptocurrencies

The United States Department of the Treasury (USDT) in a recent video conference on December 7 press release said that the finance ministers of the G7 countries had strongly supported the regulation of cryptocurrencies.

The meeting, which was attended by US Treasury Secretary Steven Mnuchin, touched on the prevention of cases of misuse of digital assets.

In late November, Coinbase CEO Brian Armstrong explained that Mnuchin had thrown away his cryptocurrency wallets.

Munuchin has long been bloated in the cryptocurrency community because of his anti-crypto statements In July 2019, and he made it clear that he would tame the novel property class with “very strict” rules. In a book written by former national security adviser John Bolton, US President Donald Trump personally called for bitcoin regulation.

This enmity transcends partisan boundaries. His successor, former Federal Reserve Chair Janet Yellen, is also not a Bitcoin fan.

Meanwhile, a consistent law introduced by most left-wing Democratic legislator Rashidah Talib makes it illegal for federal agencies to issue non-green stable coins.

Although as per the reports by U.Today, billionaire Ray Dalio has warned that the use of bitcoin could also be hazardous because of strict government regulations in the upcoming future.

Also Read: One of the Oldest German Bank to Start Cryptocurrency Fund in Early 2021