G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standards

The G20 finance ministers and central financial institution governors had their first 2020 assembly this weekend in Saudi Arabia. They mentioned cryptocurrencies and stablecoins, and issued an announcement urging nations to implement the cryptocurrency requirements set by the Monetary Motion Process Drive. They have been additionally knowledgeable that the Monetary Stability Board will quickly subject its crypto regulatory responses.

Additionally learn: Regulatory Roundup – Trump’s Cryptocurrency Proposals, IRS Modifications Rule, China Quarantines Money

G20 Begins Discussing Crypto Rules

The primary G20 Finance Ministers and Central Financial institution Governors Assembly came about in Riyadh, Saudi Arabia, on Feb. 22 and 23. Cryptocurrencies and stablecoins, reminiscent of Fb’s deliberate undertaking Libra, have been mentioned.

Within the G20 Communique launched after the second day of the assembly, the finance chiefs defined that “international financial development is…

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