- The G20 has adopted crypto asset policies laid out in the IMF-FSB joint paper.
- The group’s Indian presidency announced the communique in its last meeting.
- More consultations to come on “swift and coordinated implementation.”
The Finance Ministers and Central Bank Governors (FMCBG) of 19 sovereign states under the Group of 20 (G20) alliance have unanimously adopted the crypto regulation policies proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB).
On September 7, the IMF and FSB laid out new crypto asset policies in their joint Synthesis Paper aimed at helping regulators identify and respond to crypto-related macroeconomic and financial stability risks at jurisdictional levels.
Calling for Swift and Coordinated Implementation
In a Twitter (X) update dated October 13, India’s Ministry of Finance broke the news of adopting the “G20 Finance Ministers and Central Bank Governors Communique” following the fourth and final meeting of the G20 FMCBG under the Indian Presidency in Marrakesh, Morocco.
Per the communique, the 19-nation alliance has adopted the joint synthesis paper as a “G20 Roadmap on Crypto Assets” for coordinating global policy, developing mitigating strategies and regulations on digital assets, and monitoring specific implications on Emerging Markets and Developing Economies (EMDEs).
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“We call for swift and coordinated implementation of the G20 Roadmap, including implementation of policy frameworks; outreach beyond G20 jurisdictions; global coordination, cooperation and information sharing; and addressing data gaps.” The communique read.
Beyond the common crypto-centric framework, the G20 also agreed on continuing to implement other roadmaps to foster financial inclusion.
Financial Inclusion Plan
On the G20 2023 Financial Inclusion Action Plan, the Marrakesh meeting resolved to allow the Global Partnership for Financial Inclusion to continue advancing this vision in all three dimensions: access, usage, and quality through innovative methods like digital public infrastructure.
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Read how Cyprus intends to tighten crypto regulation:
Cyprus to Tighten Crypto Oversight with Stringent Penalties
Stay updated on Canada’s new stance on crypto regulation:
Canada Strengthens Crypto Regulation with New Guidelines
