TL;DR : The G20 Finance Ministers and Central Bank Governors reached consensus to provide their full support for Digital Currencies.
Over 55 Senior Finance Ministers and Central Bank Governors met on July 21 and 22 to discuss economic cooperation in global economic policies. Digital currencies and cryptocurrencies were among the topics on the agenda. They focused on how digital currencies provide technological benefit, increase financial inclusion (especially in less developed countries), and do not represent a global risk to the financial system.
Quoting one of the spokesperson:
"They carry hi tech allure that shines even in the toughest times. The underlying technology gets favorable reviews – even from the above cited detractors – as it holds the potential to contribute to a drastic improvement of payment systems (with significant expected payoffs in terms of financial inclusiveness and economic efficiency)."
G20 in their recent meeting have also decided to take a hands-off approach in dealing with Cryptocurrencies and have called the FATF (Financial Action Task Force) which is an intergovernmental body to come up with the AML standards within 3 months i.e before October.
References:
Document - AN INTERNATIONAL FINANCIAL ARCHITECTURE FOR STABILITY AND DEVELOPMENT - T20, ARGENTINA
https://t20argentina.org/wp-content/uploads/2018/07/TF9-9.1-CryptoAssets-Final.pdfDocument - Communiqué - G20 Finance Ministers & Central Bank Governors Meeting - 21-22 July 2018, Buenos Aires, Argentina
https://g20.org/sites/default/files/media/communique-_fmcbg_july.pdf
We're not looking for their approval! :p
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i guess some it will effect all of us
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