G20 Approves IMF-FSB's Joint Report on Crypto Regulation Oversight

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G20 Approves IMF-FSB's Joint Report on Crypto Regulation Oversight

During the recent G20 meeting, the group approved the joint report presented by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) regarding the regulation and oversight of cryptocurrencies. The report, proposed in September 2023, outlines a roadmap for regulating the crypto industry. It calls for cooperation and information sharing among regulators, comprehensive governance frameworks for crypto companies, and the application of anti-money laundering standards to prevent criminal activities. The implementation of these measures will be reviewed by the end of 2025. Additionally, the IMF has published a working paper suggesting a risk assessment matrix to help countries identify potential risks associated with cryptocurrencies.