François Villeroy de Galhau, governor of the Bank of France, spoke During the global conference on emerging markets about the upcoming G7 debate on cryptocurrency regulation in Germany, which will take place this week.
The official yesterday stressed that the issue was added to the agenda amid unprecedented turbulence on the cryptocurrency markets caused by the UST/LUNA crash last week:
“What has happened in the recent past is a wake-up call about the urgent need for global regulation.”
In fact, G7 financial executives have started discussing the regulation of cryptocurrencies since the fourth quarter of 2020, betting on the prospects for CBDCs and stablecoins.
The events surrounding UST and the collapse of Terra (LUNA) led to multi-billion dollar liquidations and market downturns.
