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Daily Flash | The G7 urges the promotion of cryptocurrency regulation；Vitalik Buterin said that the Ethereum eco is too focused on financial applications
Daily Flash | The G7 urges the promotion of cryptocurrency regulation；Vitalik Buterin said that the Ethereum eco is too focused on financial applications
20 May 12:45
Today's Topic - G7 ministers urged the financial stability Council to promote the comprehensive supervision of cryptocurrencies
After the collapse of the stablecoin UST last week, on May 20, the G7 Finance Minister collectively called for accelerating the supervision of global cryptocurrencies. The G7 Finance Minister wrote in the draft communique that in view of the recent turmoil in the crypto asset market, the G7 urged the Financial Stability Board (FSB) to promote comprehensive supervision.
The G7 is a forum for major developed countries to meet and discuss policies. Its members include the United States, Britain, France, Germany, Japan, Italy and Canada.
The FSB is an international institution headquartered in Basel and responsible for formulating many financial norms after 2008. It had previously promised to submit a regulatory report on global stablecoin in October this year. Klaas Knot, the head of the FSB, has voluntarily prepared a manual on cryptocurrency regulation, covering financial stability and investor protection.
Today's Chart - The market value of Bitcoin exceeded 45%, reaching a seven month high
On May 20, according to TradingView data, the Bitcoin market value rose to 45.33%, which has reached the highest point since October 22, 2021.
Today's Influencer - Vitalik Buterin: The Ethereum ecosystem is too focused on financial applications and needs to develop more applications in other fields
On May 20, at the Ethereum Shanghai Conference held today, Ethereum’s founder Vitalik Buterin said that the Ethereum ecosystem is now too focused on financial applications such as DeFi. The risk of financial applications is too high and there is little room for improvement. More applications in other fields need to be developed.
Hot events yesterday - #Russian Trade Minister: the legalization of cryptocurrency is only a matter of time; #CFTC Chairman of the United States believes that the cryptocurrency industry should turn to POS
Russian Trade Minister: Legalization of cryptocurrency is only a matter of time
Musk wants Twitter to become a wechat-style "super App"
Many LUNA and UST investors will jointly sue and seize Do Kwon's property
The world's largest cryptocurrency ETP publisher enters the U.S. market
U.S. CFTC Chairman: the cryptocurrency industry should turn to POS
Author: Gate.io Researcher Byron B. Translator: Joy Z.
* This article represents only the views of the researcher and does not constitute any investment advice.*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.
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