According to The Economic Times, leaders of G20 member countries expressed their approval on Saturday of the recommendations of the Financial Stability Board (FSB) and the International Monetary Fund (IMF) on crypto-asset activities and markets and the regulation and supervision of global stablecoins.
The G20 will continue to closely monitor the risks of the rapidly evolving crypto-asset ecosystem, and the G20 Finance Ministers and Central Bank Governors will discuss advancing the roadmap at their meeting in October 2023. The next G20 Finance Ministers and Central Bank Governors Meeting is scheduled to be held in Marrakech, Morocco. The G20 Leaders' Summit Declaration stated, "We welcome the IMF-FSB comprehensive document (which includes a roadmap), which will support a coordinated and comprehensive policy and regulatory framework, taking into account both prevalent risks and risks specific to emerging market and developing economies (EMDEs), as well as the FATF standards being implemented globally to address money laundering and terrorist financing risks."
G20 leaders endorsed the work plans of the FSB and industry standard-setting bodies (SSBs) on crypto-assets, as well as the report of the Bank for International Settlements (BIS) on key elements and risks of the crypto ecosystem.
The G20 leaders also called for the swift implementation of the Crypto-Assets Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS).