CRYPTO NEWS WEEKLY ROUNDUP

 

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CRYPTO NEWS WEEKLY ROUNDUP

G20 Set to Propose Coordinated Global Regulation for Crypto Based on FSB, IMF, and BIS Papers

The Finance Ministers and Central Bank Governors (FMCBG) meeting of the G20 took place last week. The meeting was chaired by India's finance minister Nirmala Sitharaman and called for a ''comprehensive and coordinated policy approach to deal with cryptocurrencies.''

The Financial Stability Board (FSB) is set to publish recommendations by July regarding the regulation, supervision, and oversight of global stablecoins, crypto assets, and markets. This will be tabled before the next meeting of the FMCBG.

Furthermore, the IMF and the FSB will publish a ''synthesis paper'' in September that 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 BIS will also provide a report on possible risk mitigation strategies related to crypto assets.