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G20 Starts Crypto Discussions - A Look at Global Standards

Finance ministers and central bank governors from the G20 countries have gathered this weekend for a two-day meeting ahead of the G20 summit, and cryptocurrency is among the topics of discussion. Global standard-setting bodies have submitted their policies and provided tools to help the member countries with the regulation of crypto assets in their own jurisdictions.

Also read: G20 Countries Start Implementing Unified Crypto Standards

Crypto Discussions at G20 Meeting

World leaders will gather in Osaka as Japan hosts its first ever G20 summit on June 28 and 29. Ahead of the summit is a G20 Finance Ministers and Central Bank Governors Meeting which is taking place on June 8 and 9 in the Japanese city of Fukuoka. Besides the G20 countries, there are invited guest countries and international organizations that will be participating including the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization. Cryptocurrency, regulations, and how users should be protected in the new financial system are being discussed at the conference this weekend, according to local media.

G20 Starts Crypto Discussions - A Look at Global Standards
G20 Finance Ministers and Central Bank Governors Meeting participants

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), mentioned crypto assets in her speech at the meeting on Saturday afternoon. She believes that “harmonization of different approaches from country to country, such as dealing with crypto assets and non-bank financial intermediaries, is important, but it also needs to aim for financial stability and consumer protection,” Nikkei conveyed. The IMF chief was further quoted as saying:

It is important to continue international dialogue, but it is not as easy as it looks.

G20 Starts Crypto Discussions - A Look at Global Standards
IMF Managing Director Christine Lagarde

At the G20 High-Level Seminar on Financial Innovation Saturday afternoon, Blockstream CEO Adam Back explained the differences between crypto

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