This article has been republished with permission from Binance News.
According to Odaily: G20 member state leaders have agreed with the recommendations from the Financial Stability Board (FSB) and the International Monetary Fund (IMF) regarding crypto asset activities, markets, and the regulation and supervision of global stablecoins. The G20 finance ministers and central bank governors will discuss advancing the FSB and IMF’s proposed roadmap during their meeting in October 2023 in Marrakech, Morocco.
The G20 Leaders’ Summit Declaration welcomed the comprehensive document submitted by the IMF-FSB, which includes a roadmap to support a coordinated and comprehensive policy and regulatory framework. G20 leaders endorsed the FSB and industry standard-setting bodies’ work plans on crypto assets and the Bank for International Settlements (BIS) report on key elements and risks in the crypto ecosystem.
Additionally, G20 leaders called for the rapid implementation of the Crypto-Asset Reporting Framework (CARF) and Common Reporting Standard (CRS) amendments. The IMF and FSB previously stated that banning cryptocurrencies would not eliminate their risks, recommending targeted restrictions, especially for emerging economies.