When G20 finance ministers and central bankers meet for the first time in Buenos Aires next week, regulation of the crypto markets will also be on the agenda. This announces a first press release. Admittedly, exact discussion points of the working meeting are not yet known at this time. One thing is for sure, however: after the subject of cryptocurrencies at the World Economic Summit in Davos was still marginalized, the circles are now tightening their efforts to coordinate regulatory efforts. These have been increasingly demanded by government leaders worldwide lately.

The regulation of cryptocurrencies does not release regulators and legislators worldwide. No surprise, therefore, that the topic is twice the discussion program of the first meeting of finance ministers and central bankers.

Next Monday and Tuesday, a first exchange of possible regulatory initiatives will take place. This is confirmed by Summit Representatives to Coindesk.

It is true that a precise discussion agenda of the working meetings is not yet certain. However, a statement from the finance and finance ministers already suggests which course is set and what goals should be pursued. So it says in the letter:

"It is important to consider the implications for the financial stability, tax evasion and illegal financial activities of cryptocurrencies. Delegates will consider joint responses that mitigate these risks, but without discouraging innovation. "

At the same time, the letter praises the underlying blockchain technology:

"The technology behind the cryptosystems has the potential to promote financial inclusion."

The ministers aim at such as the second major topic of the financial meeting. In addition to the regulation of cryptocurrencies, they want to push forward the uniform taxation of the digital economy. Thus, the meeting is all about digitalization.

The annual meetings of the major industrialized and emerging economies are primarily intended as a common forum for problems of the international economic and financial system. Before heads of state and government meet in Buenos Aires in November on the highest floor, 45 such preparatory meetings will be held throughout the year. In addition to discussions and working meetings, numerous bilateral talks are also on the program. One of these is planned for next week between freshly baked German Finance Minister Olaf Scholz and his US counterpart Steven Mnuchin.

What to expect: Regulation en route?

Voices from the still fresh federal government reveal that it could now gain momentum from joint regulatory efforts, reports Handelsblatt. The subject of cryptocurrencies was already on the table at the last meeting of the economic giants, the World Economic Forum in Davos. That it could now be a bit hotter, promise the recently accumulating calls for control and supervision of the crypto markets.

Earlier this month, ex-federal finance minister Peter Altmaier and his French counterpart Bruno LeMaire had urged in a joint letter to put cryptocurrencies on the agenda of the upcoming summit in Argentina. In turn, IMF head Christine Lagarde called "coordinated global regulation" "inescapable" last month. She also pointed out that regulations must be based on the criminal potential of cryptocurrencies.

Although the program reveals to date only consultations. The fact that the meeting of finance ministers and central bankers turns out to be a grab bag and that joint decisions stomp out of the ground can be regarded as very unlikely. Nonetheless, the meeting is taking a big step closer to the global call for coordinated efforts.

However, much is still unclear, exactly what will bring until the next week.