G20 Calls For Vigilant Monitoring Over Cryptocurrency

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The just concluded G20 summit which was held last week released a report which included an official opinion on vigilant monitoring over cryptocurrency.

The gathering which saw representatives from a total of 19 different nations come together in Buenos Aires to discuss the future of finance and digital economies.


According to the communique, technology and cryptocurrency can provide promising opportunities for growth and innovation. However, risks of instability take place as well. The G20 countries said:

“Technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy. Crypto-assets do, however, raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing. Crypto-assets lack the key attributes of sovereign currencies. While crypto-assets do not at this point pose a global financial stability risk, we remain vigilant.”

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