G20 Leaders Reaffirm Position on Cryptocurrencies in Statement

[Goodcat49]

G20 leaders reaffirmed their previous stance towards cryptocurrencies in a declaration following the G20 Summit in Osaka on June 29

In the declaration, the G20 leaders state that cryptocurrencies do not currently constitute a threat to monetary stability, and that technological innovation can deliver significant benefit to the economy.

The participants also welcome the ongoing work on those assets by the Financial Stability Board and other standard setting bodies, and encourages multilateral responses when needed.

The authors of the declaration also reaffirm their determination to comply with the updated Financial Action Task Force anti-money laundering and countering terrorism financing standards for cryptocurrencies. The document notes that the co-signers are also continuing to step up their commitments to enhance cybersecurity.

The contents of the declaration mostly reaffirm those in a joint communiqué published on the website of Japan’s Ministry of Finance on June 9, following the G20 meeting held in Fukuoka, Japan.

Additionally, the declaration contained statements on various other critical global topics, such as tackling corruption, addressing inequality and providing more equitable labor conditions.

https://cointelegraph.com/news/g20-leaders-reaffirm-position-on-cryptocurrencies-in-statement

[Alcor]

Thus, the G20 leaders actually gave general recommendations to all states to implement cryptocurrency and general rules for its legalization. It is encouraging that the G20 countries not only noted the absence of a negative impact of cryptocurrency on the world economy, but vice versa, expressed hope for a positive impact of cryptocurrency on the further development of the economy.
So far, things are going well. Perhaps, after this, despite the coming relative lull in the cryptocurrency market, it will nevertheless slowly grow. And in the fall, I hope, the growth will be decent.

[Niteroy]

It is true that this time the G20 leaders, in contrast to the previous times, expressed their positive opinion regarding cryptocurrency. It is possible that this will be a positive signal in relation to the adoption of cryptocurrency, not only for governments of different countries but also for institutional investors, businesses and banks.

[Senin]

Yes, this is very good information for cryptocurrency holders. For the first time at such a high level, the possibility of a positive effect of cryptocurrency on the development of the overall world economy is noted. This is a very good signal for doubting states such as India. Now the government of India will ponder and is unlikely to want to set aside technologically from most developed countries.