The next G7 conference is likely to bring a boost from the seven largest democracies, requiring stricter regulation of encrypted currency loans around the world, JD.com News Agency reported on March 25.

Officials told JD.com that leaders from Japan, the United States, Australia, France, Germany and the European Union will jointly agree on a cooperation strategy to enhance the clarity of login passwords and enhance consumer protection. And address potential risks in the global financial system. This year's summit will be held in Hiroshima, Japan, in May.

Among the G7 member states, Japan already regulates encrypted currency loans, while the EU encrypted assets Market (MICA) regulation will take effect in 2024. The United States is gradually developing and designing its encryption architecture, and recently launched tax forms for the unique types of encrypted assets, as well as the data element scheme that has been developed.

Australia regards digital currency as securities, the United States now has existing financial regulations on encryption, and some people will develop a regulatory framework for encryption due process in the coming months.

The Financial Stability Board (FSB), the International Monetary Fund (IMF) and the Bank for International Settlements (BIS) are working parallel to the digital currency requirements, which were unveiled by a group of the world's 20 largest economies-called G20-at a meeting in Bangalore, India, in February.

Opinions on the regulation, regulation and regulation of stable systems around the world, activities of encrypted property and sales markets are scheduled to be clearly put forward in July and September. However, at this stage, it is not clear what is the overall theme of this recommendation.

For example, the International Monetary Fund issued a plan on encrypted assets in February, urging countries around the world to remove the influence of cryptocurrency legal tender. The IMF's resistance to encryption as legal tender is well known, especially since El Salvador chose BTC as its official online loan currency in September 2021. However, IMF has been advocating stricter login password regulation around the world, and diligently developing an interoperable central bank digital money service platform to connect several CBDC around the world to achieve cross-border transactions.

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