In the wake of the recent G20 virtual summit, global leaders have reached a consensus on a comprehensive strategy to regulate cryptocurrencies. Finance Minister Nirmala Sitharaman led the briefing today, outlining a plan that aims to mitigate financial risks associated with digital assets, particularly in developing nations. The agreed-upon approach is designed to be consistent with guidance from the International Monetary Fund (IMF) and the Financial Stability Board (FSB), focusing on regulation as a means to manage risk rather than outright prohibition.

The summit's outcomes included unanimous support for five key financial initiatives:

The United States has called for an increase in funding for the World Bank, while Germany has committed new capital to boost the World Bank's lending capabilities. These developments indicate a global commitment to addressing emerging financial challenges while fostering sustainable economic growth.

https://www.investing.com/news/cryptocurrency-news/g20-agrees-on-roadmap-for-crypto-regulation-after-summit-93CH-3241608