The US Leads G7 Push To Regulate Bitcoin, The BIS Warns We're Entering Solvency Phase Of The Crisis

The news broke yesterday that all 7 G7 finance ministers agreed they all have a need to begin regulating Bitcoin and other cryptocurrencies especially since they aren't backed by anyone.
Are you wondering what that means?
Well in a chart they showed the various central banks and private companies involved in "digital currencies" then they included a subcategory of Bitcoin and other cryptos and curiously but not surprisingly Precious metals. The Fed has announced plans to move forward with the fedNOW digital payment network and it happened much faster than anyone thought possible. I know that Bitcoin would be difficult to completely shut down since it can exist everywhere at once but that can sure make it difficult to use it and removing the anonymity eliminates the main reason to use bitcoin. I'm wondering who or how they think they will come in to regulate cryptocurrencies when they have been created to circumvent them. I warned once the Fed got ready to start up the Central Bank Digital Currency new digital dollar they would begin to focus on taking out the competition. Another major headline that didn't get much coverage is the warning from the BIS or the bank of international settlements as they warn of the stretched nature and excessive valuations for US stocks coupled by the limitations of money printing. The truth is the recession hasn't ended and according to the BIS we are entering the solvency phase of the crises and leaving the liquidity phase. They warned of an increase of bankruptcies and business failures as more companies fold under lack of economic activity.