BingX Completes Audit Report with CertiK to Enhance User and Asset Security
Avalanche Lost $60 Million in Terra Crash Over UST Partnership

G7 Ministers Urge FSB to Advance Comprehensive Regulation of Cryptocurrencies

Join the Trading  Community : Learn & Earn with BingX.

Today’s Cryptocurrency Headline

G7 finance ministers will call for faster global cryptocurrency regulation after the collapse of stablecoin UST last week. The G7 finance ministers wrote in a draft communiqué, urging the Financial Stability Board (FSB) to move forward with comprehensive regulation in light of the recent turmoil in crypto-asset markets. The FSB, an international body based in Basel that was responsible for generating many of the post-2008 financial norms, had previously promised a report on the regulation, supervision and oversight of global stablecoins for October of this year.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 2.8% over the last 24 hours and fell to an intraday low of $28,700.00. Bitcoin’s recovery failed to hold the price above the $30,000 psychological price level, indicating that the bears have not yet given up, and they continue to sell on rallies. The bears are likely to pull the price below the $28,000 price level, and if they manage to do so, the BTC/USDT pair could drop to the May 12 intraday low at $26,700.


Disclaimer:  BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.