At the G20 meeting, the world's economic leaders set July as the deadline for the first step towards the krypto monetary regulation.
Speaking after the G20 meeting of finance ministers and Central Bank Governors in Buenos Aires, President of Argentine Central Bank Frederico Sturzenegger said that Member States agreed that the krypto money should be examined, but more information is needed to recommend any regulations. However, Sturzenegger stated that July was set to be the deadline for the Member States ‘proposals for the arrangements, adding: “what are we doing in July? we have to offer concrete and very special proposals, not in the form of'.” quoth.
Meanwhile, each country disagrees with the regulation of Crypto money. On Monday, Brazil's Central Bank President Ilan Goldfajn said that krypto money would not be held in his country.
Central banks and government officials have suggested that, in general, so far, it is necessary to take a closer look at the impact of Crypto money on Crime, investors and the world economy. In a joint letter from France and Germany, finance officials said that krypto money could pose significant risks to investors. U.S. Hazina Minister Steven Mnuchin and another Japanese government official expressed concern about their use of illegal activities. Mark Carney, the Head of the G20 financial stability board, said that “cryptographic assets” do not currently pose a risk to global financial stability.
Some of the officials at the summit called for a global set of regulations that each country can implement, but it is unclear how much the possible arrangements are being discussed.
The second meeting is expected to take place tomorrow at the G20 presidency office.