Why does the G7 now want to speed up the Crypto-Currency Regulations?

over 3 years ago

The year 2020 was a boom year for cryptomonies, due to the events that took place worldwide as a consequence of the pandemic.

Among these reasons that can be considered is the visualization of cryptomonies as a means of saving or security beyond what money can provide.

According to the recent AFP statement, published in early December, the G7 representatives support the regulations for the use of cryptomoney.

Source

In this meeting, where ministers, governors, officials of the International Monetary Fund (IMF) and the World Bank (WB) participated, the support of the communiqué of October was reaffirmed under the premise of the evolution of the use of cryptomoney and its possible use in illegal acts.

In conclusion, the meeting underlined the concern of the governments about the use of crypto-currencies for illicit use, for the laundering of drug money.
However, the question arises: Is this the only reason to regularize crypto-currencies at the time of the greatest exponential growth?