G20 Pledges Responsible Digital Asset Rules, Still No Timeline

G20 finance ministers and central bank governors have pledged to advance 'responsible and effective regulatory and supervisory frameworks' for digital assets. The joint chair's statement, made during a meeting in Asheville, North Carolina, does not commit to specific rules or a timeline.

The group recognizes the transformative role that digital financial innovation can play in supporting broad-based economic growth. It commits to 'establishing clear pathways for sound digital financial and digital assets innovation' while preserving financial stability.

The Financial Stability Board will report on the cross-border implications of global stablecoin arrangements. This is an extension of a process the G20 began in 2023, when it adopted a joint crypto-asset roadmap developed by the IMF and the FSB under India's presidency.