G20 Policy Brief - Money Forks: Crypto-Regulation at the G20
Cryptocurrencies have been placed on the G20 agenda for the first time during the Argentinian presidency. This is in response to a number of perceived risks to financial stability and connections to illicit activity. There was speculation that the G20 could pioneer coordinated global regulatory action on cryptocurrencies, however the final declaration has fallen short of this. While Financial Action Task Force (FATF) standards will be applied to counter terrorist financing and money laundering, all other risks will be monitored without any commitment to proactive regulation. This policy brief recommends that the G20 should implement dual strategies of regulation and investment to responsibly and progressively influence the trajectory of cryptocurrency and blockchain innovations. This would allow risks to be navigated and the significant potential held within this sector to be translated into economic and social benefits. The position the G20 has chosen instead leaves the crypto-market open to unpredictable and potentially dangerous changes.
To read Holly's full brief please click here.