The world’s economic leaders set July as the deadline for the first step towards cryptocurrency regulation at the G20 meeting.
Argentina Central Bank Governor Frederico Sturzenegger speaking after the G20 meeting of finance ministers and central bank governors in Buenos Aires. He said that member states agree that cryptocurrencies have to be studied, but more information is needed before any regulation can be recommended.. However, Sturzenegger stated that July has been set as the deadline for member states’ proposals for regulations.
Meanwhile, not every country agrees on the regulation of cryptocurrencies.. On Monday, Brazilian Central Bank Governor Ilan Goldfajn stated that cryptocurrencies will not be regulated in his country.. Financial officials from France and Germany stated in a joint letter that cryptocurrencies could pose significant risks for investors.. US Treasury Secretary Steven Mnuchin and another Japanese government official have expressed concern over their use in illegal activities.. In addition, Bank of England Governor Mark Carney, who chairs the G20’s Financial Stability Board, said that “crypto assets” currently do not pose a risk to global financial stability. made a global call for a series of regulations, but it is not known how much possible regulations were discussed.
On the other hand, Deputy Prime Minister Mehmet Şimşek, who took part in this meeting, said on his personal Twitter account after the meeting, “The message is very clear: Cryptocurrencies should be avoided.. Blockchain technology, on the other hand, can revolutionize service delivery in many areas.”
The second meeting is expected to take place tomorrow at the G20 Presidency office.