India’s finance minister said G20 members discussed the macro, financial and regulatory challenges posed by the crypto-asset ecosystem, as well as potential policy responses needed globally.
India’s achievements and scaled actions in digital commons infrastructure are well recognized. G20 members welcomed the Financial Stability Board’s (FSB) high-level recommendations on crypto-asset activities and global stablecoin arrangements.
The forthcoming FSB and IMF Synthesis Report, together with the Bureau Memorandum, will serve as important references for G20 members to understand how to proceed further on this issue, to agree on a global policy and regulatory framework, and to take positions.
G20 members need to take further action to develop a global policy and regulatory framework.