G20 countries agreed on joint crypto-regulation

The G20 countries (G20) will develop a single mechanism for regulating the cryptocurrency industry. The decision was made in the middle of this week, according to TASS.

The G20 countries have repeatedly pointed to the risks posed by digital assets. They want to pay special attention to stabelcoins, the issuers of which are private companies.

Ensuring global financial stability is the primary goal of the organization. That is why the G20 wants to control cryptocurrencies with volatility.

According to Svetlana Lukash, the representative of Russia in G20, the organization was also in favor of a joint fight against cybercrime and the development of artificial intelligence.

Of all the other G20 states, the Russian Federation has the toughest stance on the cryptosphere. Back in 2019, the Russian Ministry of Finance called on foreign partners to develop a regulatory framework for the digital asset market and introduce taxation of this segment of the economy.