The Group of Seven (G-7) advanced economies must take the initiative in implementing Financial Action Task Force (FATF) recommendations to prevent illegal financial flows through cryptocurrency, said the president of the global financial crimes agency in a letter on Thursday. The sharply worded letter, headed “An end to the lawless crypto space,” was released ahead of the G-7 leaders’ conference in Hiroshima, Japan, which begins on Friday. The group’s finance ministers and central bank governors met last weekend to discuss crypto legislation, and they are expected to restate their support for tighter crypto restrictions globally at the summit.