China’s President Xi Jinping has called on G20 leaders to lay the groundwork for central bank digital currencies adoption by developing standards and principles.
In this week’s CoinGeek Pulse, Shenzhen residents receive digital yuan in People’s Bank of China’s red packet giveaway, G20 wants to set standards for sovereign digital currencies, and James Belding gave an online demonstration of the Tokenized platform.
While recognizing the rise in prominence of CBDCs, the Financial Stability Board is challenging the effectiveness and comprehensiveness of the existing financial regulations.
G20 nations could begin accepting digital payments this year after leaders from the powerful nations recently decided to lay the groundwork starting October.
The Financial Stability Board published a list of recommendations in a bid to shape a common global response to regulating stablecoins.
The G20 group wants to see all countries adopt the policies established by the Financial Action Task Force.
The G20 countries are preparing to meet in Japan this June to discuss cryptocurrencies and international guidelines of the Bitcoin space.
The member countries of the G20 are preparing to meet once again in order to push out more regulations for digital assets.
Japan regulators are now looking to introduce a new system that will report significant profits from crypto-based transactions.
Members of G20 have signed a joint declaration calling for cryptocurrency regulations against money laundering and terrorist financing.
During its meeting in Buenos Aires, the G20 forum set out plans to put the cryptocurrency sector under anti-money laundering (AML) standards.