As the adoption of cryptocurrency continues to spread like wildfire, regulations continue to roll out from every corner. And G7 countries aren’t too far behind when it comes to following crypto regulatory practices, according to Binance founder and CEO, Changpeng Zhao. These views from CZ were bolstered after France granted a license to Binance to provide crypto services in the country. G7 countries are all moving into crypto. — CZ 🔶 Binance (@cz_binance) May 5, 2022 Japan’s Central Bank Calls For Uniform Regulation Among G7 Countries In April, the Bank of Japan (BOJ) issued a strong warning urging the G7 countries to establish an international unified regulatory architecture for regulating and supervising cryptocurrencies. According to the central bank, a framework for overseeing cryptocurrencies must be developed as soon as possible to prevent financial mishaps in the economy. There has been an increase in debates about bitcoin transactions due to the ongoing battle between Ukraine and Russia. Also, the usage of cryptocurrency tokens to circumvent economic penalties and commit fraud has caught the interest of regulatory bodies. According to the Bank of Japan, the current laws are incapable of monitoring the role of cryptos in circumventing economic restrictions. G7 Countries Laydown Framework For CBDC During a meeting held in October last year, the G7 countries discussed the possibility of issuing a Central Bank Digital Cur...
