G20 Leaders Endorse FSB Recommendations for Crypto Regulation
The G20 leaders have released their declaration following their summit in New Delhi. They endorsed the Financial Stability Board’s “high-level recommendations for the regulation, supervision, and oversight of crypto-assets activities and markets and of global stablecoin arrangements” and welcomed several reports by standard-setting organizations. The G20 leaders emphasized “the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage.” G20 Releases Leaders’ Declaration The G20 leaders released their declaration on Sunday following a two-day summit in New Delhi. India holds the G20 Presidency this year. The 37-page declaration includes a section on the policy and regulation of crypto assets and central bank digital currency (CBDC). “We continue to closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem,” the declaration states. “We endorse the Financial Stability Board’s (FSB’s) high-lev