RATE Group | G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standa…
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G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standa…

24 Feb G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standa…

Posted at 06:38h in Cryptocurrency News by

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G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standards

The G20 finance ministers and central bank governors had their first 2020 meeting this weekend in Saudi Arabia. They discussed cryptocurrencies and stablecoins, and issued a statement urging countries to implement the cryptocurrency standards set by the Financial Action Task Force. They were also informed that the Financial Stability Board will soon issue its crypto regulatory responses.

Also read: Regulatory Roundup – Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash

G20 Begins Discussing Crypto Regulations

The first G20 Finance Ministers and Central Bank Governors Meeting took place in Riyadh, Saudi Arabia, on Feb. 22 and 23. Cryptocurrencies and stablecoins, such as Facebook’s planned project Libra, were discussed.

In the G20 Communique released after the second day of the meeting, the finance chiefs explained that “global economic growth is expected to pick up modestly in 2020 and 2021.” However, they added, “We…

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