G20 members tout ‘clear pathways’ for digital asset innovation
Officials in the G20, under the US’ presidency, recognized that digital assets could support “broad-based economic growth” and called for improvements in cross-border transactions.
At the G20 summit led by the United States, officials expressed optimism on the potential for digital assets to drive "broad-based economic growth." The Group of 20 nations, currently under U.S. presidency, agreed on policies that would foster this growth. In a statement released by the US Treasury Department, G20 members confirmed they recognized the "transformative role" of digital asset innovation.
The group also urged countries to enhance cross-border payments and data sharing for financial services. The G20 pledged to develop responsible and effective regulatory frameworks that would maintain financial stability, spur economic growth, and provide "clear pathways" for legitimate digital asset innovation. They were awaiting results from the Financial Stability Board regarding global stablecoin arrangements and data sources.
This support for digital asset policies came as several member countries had enacted laws to regulate cryptocurrencies and stablecoins, such as the EU's Markets in Crypto Assets (MiCA) rules and the GENIUS Act in the United States.
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