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G20 adopts IMF roadmap

The G20 has adopted the roadmap proposed in the joint document by the International Monetary Fund (IMF) and the Financial Stability Board (FSB).

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The G20, consisting of 19 countries among the world's largest economies and the European Union, has made a significant decision regarding crypto regulation. The organization has adopted the roadmap proposed in the joint document by the International Monetary Fund (IMF) and the Financial Stability Board (FSB).

G20 CRYPTO DECISION

The G20 unanimously adopted the G20 Finance Ministers and Central Bank Governors Communiqué at their meeting held today in Marrakech, Morocco. With this, the roadmap for crypto regulation has also been accepted.

G20 members approved the policies regarding crypto assets outlined in the joint report by the IMF and the FSB. In a statement released by the G20, it was stated, "We call for the swift and coordinated implementation of the roadmap, including global coordination, cooperation, and information sharing to address data gaps."

The IMF-FSB document advocates for the establishment of a comprehensive oversight mechanism rather than a ban on cryptocurrencies. High-level recommendations included cross-border cooperation and information sharing among regulators. Attention was drawn to comprehensive governance and risk management frameworks for crypto companies. According to the document, the first review of the implementation status of the proposed measures is required to be conducted by the end of 2025.

The IMF had published a working paper in October to assess macro-financial risks arising from crypto assets. In this study, it was recommended that countries identify indicators and triggers for potential risks in the sector.