G20 Leaders’ declaration Building consensus for fair and sustainable development

At the G20 Leaders Summit, members pledged (in a joint declaration) that they would adopt regulations for crypto-assets (which include cryptocurrency) which conform with standards set by the Financial Action Task Force (FATF). Paragraph 25 of the document contains the following pledge:

An open and resilient financial system, grounded in agreed international standards, is crucial to support sustainable growth. We remain committed to the full, timely and consistent implementation and finalization of the agreed financial reform agenda, and the evaluation of its effects. We will continue to monitor and, if necessary, tackle emerging risks and vulnerabilities in the financial system; and, through continued regulatory and supervisory cooperation, address fragmentation. We look forward to continued progress on achieving resilient non-bank financial intermediation. We will step up efforts to ensure that the potential benefits of technology in the financial sector can be realized while risks are mitigated. We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed.

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2018
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Saturday, December 1, 2018

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