{"id":84292,"date":"2023-09-11T17:22:28","date_gmt":"2023-09-11T14:22:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84292"},"modified":"2025-09-12T16:28:58","modified_gmt":"2025-09-12T13:28:58","slug":"g20-backs-fsb-and-imf-recommendations-on-crypto-asset-regulation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/g20-backs-fsb-and-imf-recommendations-on-crypto-asset-regulation\/","title":{"rendered":"G20 backs FSB and IMF recommendations on crypto-asset regulation"},"content":{"rendered":"<p>G20 member countries <a href=\\\"https:\/\/www.g20.org\/content\/dam\/gtwenty\/gtwenty_new\/document\/G20-New-Delhi-Leaders-Declaration.pdf\\\">approved<\/a> the recommendations of the Financial Stability Board (FSB) and the International Monetary Fund (IMF) on the regulation, supervision and oversight of digital assets.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;We urge the FSB and standardisation bodies to facilitate the effective and timely implementation of these recommendations on a consistent basis worldwide to avoid regulatory arbitrage,&#8221; the leaders said.<\/p>\n<\/blockquote>\n<p>Global watchdogs <a href=\"https:\/\/forklog.com\/en\/news\/imf-and-fsb-publish-recommendations-on-crypto-asset-regulation\">presented the document<\/a> on 7 September at the initiative of India, which currently chairs the G20.<\/p>\n<p>The G20 nations urged the rapid adoption of a crypto-asset reporting regime and amendments to the global standards for financial reporting. At the summit, they also approved measures to assist in the fight against money laundering.<\/p>\n<p>The FSB recommendations cover a large swath of the crypto market. They aim to harmonise standards for jurisdictions to mitigate risks associated with digital assets. Experts highlighted the danger of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> to economic stability.<\/p>\n<p>In the board&#8217;s view, DeFi platforms could exacerbate the vulnerabilities of traditional systems.<\/p>\n<p>It is expected that the forthcoming October meeting of finance ministers and central bank governors in Morocco will continue the G20&#8217;s dialogue on cryptocurrency regulation.<\/p>\n<p>IMF Managing Director Kristalina Georgieva noted that &#8220;there is still a lot of work ahead, including in the area of digital money and crypto assets.&#8221;<\/p>\n<p>Earlier, the G20 advisory body <a href=\"https:\/\/forklog.com\/en\/news\/g20-regulator-flags-instability-in-stablecoins\">found<\/a> that none of the existing &#8220;stablecoins&#8221; meet the standards set by the central banks of the world&#8217;s largest economies.<\/p>\n<p>Back in July, the FSB <a href=\"https:\/\/forklog.com\/en\/news\/fsb-at-the-g20-outlines-recommendations-for-global-crypto-regulation\">presented recommendations<\/a> on the global regulation of digital assets. The document sets standards for stablecoin issuers and trading platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>G20 member countries backed the Financial Stability Board and IMF recommendations on the regulation and oversight of digital assets.<\/p>\n","protected":false},"author":1,"featured_media":84293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1324,204,36],"class_list":["post-84292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-g20","tag-imf","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84292"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84292\/revisions"}],"predecessor-version":[{"id":84294,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84292\/revisions\/84294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84293"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}