G20 participants will begin to create a regulatory framework for digital payments

G20 participants will begin to create a regulatory framework for digital payments

G20 Club Members Agree to Lay the Regulatory Framework for Accepting Digital Payments.

According to officials, the first changes should begin in October this year, after a meeting of finance ministers and their deputies in Washington. However, the participants plan to work out this direction in full only by the November summit in Riyadh..

National governments have decided to reconsider their policies on the issue after China successfully developed the digital yuan. and began to integrate it into existing economic systems. An additional incentive was the anticipation of the launch of the Facebook Libra project.

The Financial Stability Council back in February drew attention to the lag of most countries in this matter. Then the chairman of the organization, Randal Quarles, said that the regulators were not able to keep up. behind the rapid development of digital currencies.

G20 participants will begin to create a regulatory framework for digital payments

text: Ivan Malichenko, photo: insideover

Similar articles

Related Post