Finance ministers and central bank governors of the G20 countries issued a joint communiqué in Marrakesh, Morocco. It indicates the unanimous adoption of a comprehensive roadmap aimed at regulating crypto assets.
The joint communiqué was issued during the fourth and final meeting of the G20 FMCB under the Indian Presidency.
The roadmap aims to improve global financial stability and ensure effective governance of cryptocurrencies within the international economic system.
The agreed roadmap for crypto assets is based on a document that was presented in Delhi last month.
The meeting participants called for the speedy and coordinated implementation of the G20 Roadmap on cryptoassets. This roadmap covers policy frameworks, outreach initiatives beyond G20 jurisdiction, global coordination, cooperation and sharing of critical information.
It is expected that the concerted efforts of countries will contribute to strengthening macroeconomic and financial stability, while facilitating the effective and flexible implementation of comprehensive crypto-asset policies.
According to the press release, the communiqué, in line with the New Delhi Declaration of G20 Leaders, emphasizes the need for a uniform tax regime for cryptocurrencies. States are encouraged to protect their monetary sovereignty, but the report emphasizes that a complete ban on digital assets is not the only possible solution.
The statement from finance ministers and central bank governors also asked the International Monetary Fund (IMF) and the Financial Stability Board to provide updates on the progress of the G20 cryptocurrency roadmap.
Thus, it can be stated that the G20 countries are trying to tighten the cryptocurrency market. This was largely due to the collapse of the FTX crypto exchange, whose former head is currently on trial in the United States.
The G20 is also going to take appropriate control over cryptocurrency transactions on the market. It is likely that new initiatives will be developed over the next few years to enhance oversight of digital asset marketplaces.
