According to the “Cointelegraph” report, at the Finance Ministers and Central Bank Governors Meeting (FMCBG) of the Twenty Major Industrial Countries (G20) held in Marrakech, Morocco on October 13, G20 member states accepted the agreement established by the International Monetary Fund (IMF). and the Financial Stability Board (FSB) proposed a roadmap for cryptocurrency regulation in a joint report.

The G20 noted:

"We call for rapid and coordinated implementation of the G20 roadmap, including implementing policy frameworks; working outside the G20's jurisdiction; global coordination, cooperation and information sharing; and addressing data gaps."

𝐈𝐧 𝐭𝐡𝐞 𝐬𝐩𝐢𝐫𝐢𝐭 𝐨𝐟 #𝐎𝐧𝐞𝐄𝐚𝐫𝐭𝐡𝐎𝐧𝐞𝐅𝐚𝐦𝐢𝐥𝐲𝐎𝐧𝐞𝐅𝐮𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐟𝐮𝐥𝐥 𝐜𝐨𝐧𝐬𝐞𝐧𝐬𝐮𝐬 𝐛𝐲 𝐭𝐡𝐞 #𝐆𝟐𝟎 𝐦𝐞𝐦𝐛𝐞𝐫𝐬, 𝐭𝐡𝐞 𝐅𝐨𝐮𝐫𝐭𝐡 #𝐆𝟐𝟎 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤… pic.twitter.com/OLuPvBv9rx

— Ministry of Finance (@FinMinIndia) October 12, 2023

A comprehensive paper published by the IMF and FSB advocates for comprehensive oversight of cryptocurrencies, rather than a blanket ban. Its recommendations include cross-border cooperation and information sharing between regulators, requirements for comprehensive governance and risk management frameworks for cryptocurrency companies, and ensuring that regulators have access to relevant data provided by cryptocurrency companies.

According to the document, the first review of the implementation of the proposed measures should take place before the end of 2025.

Related reports: "IMF, FSB put forward policy recommendations for cryptocurrency activities: Restrictive measures should not replace comprehensive supervision"

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