The Group of 7 (G7) finance ministers and central bank officials met last week in London. They have reiterated past comments about stablecoins and its opposition to those that don’t align with “relevant legal, regulatory, and oversight requirements.”
Stablecoins and digital assets more broadly have been on the radar of the G7 for several years. In late 2019, the G7 released a report on stablecoins, stating that stablecoins represent both potential benefits and regulatory, legal, and cybersecurity risks.
Globally, stablecoins can pose risks to monetary policy and financial stability, according to the G7.
