G20 Finance Ministers And Bank Governors Discuss Prospects For Global Regulation Of Cryptocurrencies

Finance ministers and central bank governors discussed the issue of cryptocurrency regulation during the G20 meeting in the United States on April 12-13, 2023.

According to the report, Indian Finance Minister Nirmala Sitharaman commented after a meeting:

"There is a greater acceptance among all Group of 20 members that any action on crypto assets will have to be global."

She noted that members of the meeting agreed that "it's not going to be possible to have an independent, standalone country dealing with the crypto assets."

The G20 (Group of 20) is an intergovernmental forum that includes 19 countries and the European Union (EU). They account for over 80% of global gross domestic product (GDP) and 79% of global GDP growth over the past decade (2012-2022). It also accounts for about two-thirds of the world's population.

If cryptocurrency regulation issues are decided collectively by the G20, it will have a significant impact on the cryptocurrency industry worldwide.