In their Final Declaration in New Delhi (India) during the G20 annual summit, The member nations have endorsed the IMF Financial Stability Board's recommendations on global regulations of crypto.
We endorse the Financial Stability Board’s (FSB’s) high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements.
They also ask the standardization bodies to promote and implement recommendations to avoid regulation arbitrage.
We ask the FSB and SSBs to promote the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage.
I think it's a good news for the crypto industry. G20 leaders recognize crypto-asset as a new asset class that new to be regulated. It will be interesting to see how each country implement the FSB recommendations.
What do you think?