LUNA
News reports said that the G7 countries decided to begin their meetings to discuss the collapse of the digital currency LUNA, adding that the discussions may center on the topic of Terra and the regulation of the crypto market in general.
In this context, Francois Villeroy de Gallo, President of the French Central Bank, mentioned some details of the group’s agenda, which will revolve in particular on the regulation of digital currencies, adding that this topic was added to the agenda amid the great turmoil in the digital currency market, which was caused by the drama Luna and UST last week.
The French official stressed that what happened in the previous days of the historic collapse of the Luna currency is a wake-up call to the urgent need for global regulation of digital currency transactions.
Last week, a state of controversy prevailed in the US Congress over a stable digital currency, as the US Senate Committee on Banking, Housing, and Urban Affairs organized a hearing, in which US Treasury Secretary Janet Yellen drew attention to the recent collapse of the stablecoin Terra and its subsequent collapse. Luna collapses.