G7 Nations Forge Ahead with AI Code of Conduct
The G7’s AI Code of Conduct emerges at a time when governments worldwide are grappling with the transformative power of AI.
The G7’s AI Code of Conduct emerges at a time when governments worldwide are grappling with the transformative power of AI.
Inflation in the UK is still on the rise despite continuous hikes in interest rates and inflation reductions in other G7 countries.
China has agreed to work with Japan to promote practical cooperation in key economic and trade areas including advancements in the semiconductor industry.
The move follows the collapse of the FTX exchange back in November 2022, as well as the recent banking crisis.
Finance ministers and central bankers from the Group of Seven (G7), a group of nations boasting the world’s most advanced economies, recently stepped up their calls for more stringent regulation of cryptocurrency assets, especially so-called stablecoins that are pegged to the price of traditional fiat currencies.
Drafting the regulations hasn’t been without challenges and Minister Kokkinos did not neglect to mention those faced by the country.
Top financial leaders of the G7 nations have requested the Financial Stability Board (FSB) for bringing consistent and comprehensive crypto regulations.
Achieving the global tax rate policy is dependent on getting the majority of the countries on board, through various means that can help them make compromises.
The broader G20 bloc wants to strike a deal based on this uniform tax rate by the summer, with the progress made by the G7 sighted as a key catalyst for this move.
The G7 officials discussed the need to regulate crypto assets and prevent its use for any malicious or illicit activities. There’s strong support across the top economies to regulate digital assets.