G20 Meeting of Financial Chiefs Takes a Step Forward Towards Crypto Regulations

The G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting on February 24-25 in Bengaluru, India, concluded with a strong commitment to regulations for the cryptocurrency sector.

The International Monetary Fund (IMF), Bank for International Settlements (BIS), and Financial Stability Board (FSB) have been tasked to come up with recommendations and a roadmap for regulating the cryptocurrency sector.

“We look forward to the IMF-FSB Synthesis Paper, which will support a coordinated and comprehensive policy approach to crypto-assets, by considering macroeconomic and regulatory perspectives, including the full range of risks posed by crypto assets,” The G20 Chair’s Summary and Outcome Document said.

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