Global Consensus on Cryptocurrency Regulation Emerging from G20 Summit

Achieving a Global Perspective

A global consensus on cryptocurrency regulation is emerging from the G20 Summit in New Delhi, India, officials said Sunday. Gita Gopinath, the International Monetary Fund’s first deputy managing director, said in a video that the Group of 20, which is currently led by India, “helped shape a global perspective on how policymakers should deal with crypto assets.”

India Leading the Way

IMF Managing Director Kristalina Georgieva said India led the way in “setting up a road map for crypto regulations,” and that her organization is “contributing to proposals for a comprehensive policy framework.”

No Talk of Banning Cryptocurrencies

Gopinath said that although principles have been agreed upon, “there is no talk of banning cryptocurrencies, indicating a global consensus against such measures,” according to Indian outlet Business Today.

Licensing and Registration Processes

Rather than legalizing cryptocurrency assets like Bitcoin as legal tender, the guidelines suggest creating licensing and registration processes for crypto asset issuers, focusing on treating the activities similarly.

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