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G20 leaders reconfirm cryptocurrencies do not currently pose a threat to monetary stability

  • The G20 leaders reconfirmed in a post declaration follow last month’s summit in Japan. 
  • Cryptocurrencies do not currently constitute a threat to monetary stability. 
G20 leaders reconfirm cryptocurrencies do not currently pose a threat to monetary stability
Ken ChigboKen ChigboIndependent Analyst

G20 leaders have reaffirmed their previous stance towards cryptocurrencies in a post summit declaration following the G20 Summit in Osaka.

The G20 leaders stated that cryptocurrencies do not currently constitute a threat to monetary stability. They added that technological innovation can deliver significant benefits to the economy. 

Furthermore, the participants welcomed the guidelines set by the Financial Stability Board and other standard setting bodies, encouraging multilateral responses when needed.

In addition to their determination to comply with the updated Financial Action Task Force anti-money laundering and countering terrorism financing standards for cryptocurrencies. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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