Cryptocurrencies will be a key topic at the G20 summit

According to Ananth Nageswaran, Chief Economic Advisor to the Government of India, cryptocurrency regulation will be a priority issue at the upcoming Group of Twenty (G20) summit. According to the organizers of the meeting, the formation of a unified regulatory framework and terminology for the crypto sector is the third on the list of tasks for G20 officials.

This year’s summit will be held on November 15−16 on the island of Bali. Among the honored guests is Volodymyr Zelenskyy, who was invited by Indonesian President Joko Widodo. Obviously, the key issue will be global security and the invasion of Ukraine by a terrorist state, but the topic of regulating the use of cryptocurrencies is also planned to be discussed.

As it has become known, the summit will feature about 40 talks dedicated to the financial sector, and finance ministers and central bankers will have the opportunity to discuss important financial issues, including cryptocurrencies. It is possible that the officials will discuss in more detail the development and implementation of CBDCs, which is already being worked on by a number of countries.

Back in July, the Financial Stability Board (FSB) announced that finance ministers and central bankers of the Group of Twenty (G20) countries would unveil global rules for cryptocurrency regulation in October. So far, this has not happened, but crypto analysts predict that the rules will be published after the November summit.