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Crypto Should Meet Same Norms as Regular Finance, G7 Says
Finance ministers want to see financial stability and money-laundering standards in effect soon, citing recent market turmoil.
Updated May 11, 2023, 3:41 p.m. Published May 20, 2022, 11:57 a.m.
Crypto assets should be held to the same standards as the rest of the financial system, the grouping of finance ministers from the world's seven largest developed economies said.
A statement released by the G7 called for tougher rules to counter money laundering and disclose reserves, after the collapse of stablecoin terraUSD (UST) last week.
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"The G7 remains committed to high regulatory standards for global stablecoins, following the principle of same activity, same risk, same regulation," it said. The statement confirmed reports that the Financial Stability Board (FSB) has been asked to speed up work in the wake of the market shock.
The missive also called for implementation of the Financial Action Task Force (FATF) travel rule, a controversial anti-money laundering provision that jurisdictions, such as the European Union, are currently legislating for, and for "stronger disclosure and regulatory reporting, for instance, as regards reserve assets backing stablecoins."
Read more: G-7 Finance Ministers Call to Accelerate Global Crypto Regulations Following UST Collapse
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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