G20 Finance Leaders urge global regulators to create multilateral standards for regulating crypto
- Central bank governors and finance ministers from the G-20 countries signed a communique asking global regulators to monitor risks related to cryptocurrencies.
- The group urged the Financial Stability Board (FSB) and other global regulators to come up with global standards for regulating crypto assets.
Part of the statement read: “We ask the FSB and standard-setting bodies to monitor risks and consider work on additional multilateral responses as needed.”
The finance leaders further clarified that: “Technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy.”
This exact sentence was repeated from the statement released during a similar meeting held in July 2018 in Buenos Aires, Argentina.