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G20 Unveils Global Roadmap To Regulate Cryptocurrency Assets


In a bid to provide proper regulation for cryptocurrency assets, the Finance Ministers of G20 (Group of 20) and Central Bank Governors has issued a crypto roadmap for worldwide regulation as well as cooperation in Marrakesh Communiqué.

On Sunday, October 8, the heads of the 20 world largest economies otherwise known as the G20 concluded their yearly conference in New Delhi India.

READ ALSO:Bitcoin’s Layer 2 Lightning Network Records 1,212% Surge in Growth – Details

As at the time of the meeting, the G20 made a promise to strive hard to establish a strong global economy which will be also balanced, sustainable as well as provide inclusive opportunities for the growth of all.

Fast Facts

  • According to provided documents, the work of the G20 is geared towards an all-inclusive regulatory structure for cryptocurrency assets.
  • In addition, the work focuses on 5 major points which are; creating upgraded KYC (Know-Your’s-Customer) requirements for cryptocurrency firms.
  • Also, asking crypto exchanges to provide proof-of-reserve audits on real-time basis to the watchdogs; establishing a unified taxation policy, giving crypto exchanges official dealer status and also ask crypto companies to obtain specific positions on staff like a reporting officer for money laundering.
  • Furthermore, the G20 plans to create a positive impact on the global economy through establishing a cross-border structure for cryptocurrency assets.
  • As a result, the group of 20 leaders calls for the fast implementation of the CARF (Crypto-Asset Reporting Framework) and the amendments of the Common Reporting Standard (CRS).
  • According to the Communiqué in Marrakesh, the G20 FMCBG will need a structured and regular update from the FSB and IMF about the progress of the roadmap implementation.
  • Furthermore, the G20 showed its support for the global adoption of standards and ongoing work by the FATF (Financial Action Task Force) on cryptocurrency assets.

What’s Happening In Crypto Today?

As at the time of this writing, the price of Bitcoin is at $26,805.42, with a decline in market cap by 0.02% and a decline also in trading volume by 24.39%.

On the side of Ethereum, its price at the moment is $1,549.54, with a drop in market cap by 0.54% and an increase in trading volume by 12.80%.

  • Meanwhile, Tether is presently trading at $0.9997, with a decline in market cap by 0.01%, and a decline also in trading volume by 9.80%.
  • As for BNB, its price at the moment is at $0.27%, with an increase in market cap by 0.27% and an increase also in trading volume by 18.08%.
  • While, XRP is right at this moment selling at $0.4826, with an increase in market cap by 1.10% and a drop in trading volume by 2.62%.
























































































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