Representatives of the G20 countries unanimously adopted a crypto regulatory roadmap presented by the Financial Stability Board (FSB) and the International Monetary Fund (IMF).
During a meeting of the G20 Finance Ministers and Central Bank Governors in Marrakech, Morocco, the roadmap for global regulatory standards for the cryptocurrency market was approved. According to the meeting’s communiqué, politicians endorse the approach of regulators.
The document emphasizes the need for the following actions:
- ensuring macroeconomic and financial stability in the context of cryptocurrencies;
- global coordination and cooperation in crypto market regulation;
- assessing the risks associated with crypto-assets, including data and information management;
- implementing research support and information sharing among participants to better understand and adapt to the crypto market dynamics;
- introducing a policy framework to ensure compliance with crypto rules and regulations;
- providing compliance with Financial Action Task Force (FATF) rules and standards for crypto-assets;
- providing regular updates and structured information on the progress of crypto policy implementation.
G20 members reiterated that global cooperation and monitoring of the situation is required to ensure the safety and stability of the cryptocurrency market.
Specifically, G20 members approved:
- cooperation and information sharing among regulators at the international level;
- requirements to establish comprehensive risk management structures for cryptocurrency companies;
- access for regulators to relevant data provided by companies.
The recommendations for the G20 discussion were provided by analysts of the Financial Stability Board (FSB) and the International Monetary Fund (IMF) several months ago, with insistence on the development of global standards for crypto regulation.
According to the published communiqué, the first review discussion on the status of implementation of the proposed measures should take place by the end of 2025. During the meeting, G20 representatives also discussed a number of global negative factors that hamper the development of the world economy, including:
- high inflation rates;
- debt accumulation by countries;
- geo-economic fragmentation.
Recently, the IMF analysts proposed to develop a special tool to identify indicators and triggers of potential risks in the crypto sphere.
