G20 Backs Clearer Crypto Rules Amid Stablecoin Focus

G20 finance ministers and central bank governors have agreed to work towards clearer regulatory frameworks for digital assets, including stablecoins and cross-border payments. The agreement was reached during their meeting in Asheville, North Carolina, under the United States G20 presidency.

The statement acknowledged the benefits of digital financial innovation, including digital assets, for inclusive growth. Members committed to supporting the development of responsible and balanced regulation that preserves financial stability and promotes growth and enables sound innovation.

Regarding stablecoins, the G20 anticipated the Financial Stability Board's forthcoming reports on the cross-border impacts of global stablecoin arrangements as well as stablecoin data sources, availability and possible data gaps. However, the statement did not create a common licensing regime or equivalent stablecoin regulatory framework for member jurisdictions.