Cryptocurrency Regulation Back On G20 Agenda In Washington

The G20 – or the group of the world’s 20 largest economies is having a meeting today where cryptocurrencies will be among the list of topics. It is believed that the meeting will begin discussions in order to build a regulatory plan for the cryptocurrency market and drive the cryptocurrency regulation to a whole new level.

The meeting is held in Washington, DC on April 19th and 20th for the Second G20 Meeting of Finance Ministers and Central Bank Governors. Currently, everyone knows that it is necessary to construct certain regulations in order to prevent the crypto industry from being used by malicious agents who would take advantage of it for their crimes. Moreover, users need to be properly protected.

At the Second G20 meeting that takes place in Washington, proposals for cryptocurrency regulation of the cryptocurrency market are expected to take center stage – just like other themes in the global agenda such as protectionism and the possible financial impact coming from the violence in Syria.

Aside from this event, the IMF and the World Bank Group will also be participating in a meeting that will be attended by 55 delegates (22 finance ministers, 18 central bank governors, and 9 international organization leaders). This meeting follows the Third Meeting of G20 Finance Deputies being held on 18 April this year – with an agenda that includes discussions towards the future of global future and the potential risks and financial vulnerabilities.

All in all, the objective is for consensus to be reached, which would enable progress on a public policy document which will be released in June, when the first practical proposal for cryptocurrency regulation should also be presented.