Musk had started his takeover campaign of the social media site last month by announcing to buy a prominent stake in Twitter and then offered to buy the firm for $54.2 per share, which would value the company at around $41.4 billion.
The legislation will be based on international standards as the officials have vowed to partner with the Bank of International Settlements (BIS), the Financial Stability Board (FSB), and American and European watchdogs before officially introducing it.
This came as a surprise to the crypto community as Dr Doom is a longtime crypto skeptic who called Bitcoin “the mother of all bubbles.”
FSB said Bitcoin and other tokens could operate under the radar of regulators, and as such, cybercriminals could facilitate illegal transactions with them.
