Leaders of the world's leading economies have appointed the final date for proposing recommndations for thecrypto regulations. This is reported by CoinDesk.
During his speech after a meeting of finance ministers at the G20 summit in Buenos Aires, the chairman of the central bank of Argentina Federico Shturzenegger said that the representatives of the G20 countries came to the conclusion that the crypto-currencies need to be studied and then to be regulated.
At the same time, during the conference, he noted that all interested countries should submit their proposals by July of this year.
In July we have to offer very concrete, very specific recommendations on, not 'what do we regulate?' but 'what is the data we need?'
Chairman, Central bank of Argentina
Not all of the states that are members of the G20 intend to participate in the further discussion. So, on Monday, the president of the central bank of Brazil, Ilan Goldfine, said that in his country the crypto-currencies will not be regulated. As El Cronista explains, Brazil is not required to follow the G20 guidelines for crypto-currencies and other issues.
Many representatives of the states wishing to regulate crypto-currencies, namely France, Germany, the USA and Japan, contributed to the resolution of today's decision.
They urge to consider crypto-currencies in the context of influence on crime, investors and the world economy. While representatives of France and Germany say that digital assets carry significant risks to investors, US and Japanese officials are most apprehensive that they will be used to conduct illegal activities.
Despite this, G20 representatives agree that crypto-currencies don't threaten financial stability in the world, as Mark Kerni, chairman of the Financial Stability Board, wrote in his message.