The G20 countries urged the Financial Stability Board and regulators in various countries to assess the risks associated with digital currencies. Reported by the Cointelegraph.
At the meeting the G20 participants noted that regulators should pay more attention to cryptocurrencies and the risks associated with them. It is emphasized that at the moment digital currencies do not pose a threat to world financial stability. The corresponding meeting of the ministers of finance and representatives of central banks of G20 countries took place in Fukoka, Japan, at 9th of June, 2019.
While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT).
G20 participants also appealed to the Financial Stability Board with a request to strengthen market monitoring and develop measures to counter these risks.
At the same time, the document notes that representatives of the G20 support the creation of platforms for trading cryptoactive assets that protect the interests of users and investors, as well as the integrity of the market.
In addition, the document talks about the potential advantages of the blockchain and cryptocurrency for the global economy.
At the end of last year, the final declaration of the G20 summit also noted the need to regulate the cryptocurrency market.