The G20 Summit In March: Is The Crypto Regulation Coming Closer Or Not?

The G20 Summit happening this March in Buenos Aires is one of the biggest events for cryptocurrencies right now. All eyes are pointed towards the future of cryptocurrencies and their potential regulation.

Even the European Central Bank (ECB) expects cryptocurrency regulation as a high point in the agenda, according to Reuters. Crypto is definitely one of the hottest topics, especially after the steamed discussions happening at the World Economic Forum 2018 in Davos.

It was exactly the World Economic Forum this year where an ECB board member named Benoit Coeure added weight to cryptocurrencies and pointed to France’s economy minister to make Bitcoin a topic at the political forum.

As he said, “The international community is… preparing an answer to that and I would expect, for instance, the G20 discussion in Buenos Aires in March to focus very much on these issues,”

Le Maire also expressed a desire to have Bitcoin regulation feature on the G20 agenda with many repeating calls for an international regulatory effort during the WEF. The British prime minister Theresa May also expressed the need to consolidate standpoints, while former US Secretary John Kerry stated that the “technology had value” and that people are always going to talk about it.

Still, there are a lot of naysayers too. Sweden’s deputy central bank governor is one of them, and a person who stopped short of calling for heightened control of cryptocurrencies. He said that they don’t meet the criteria to be called money.

As she stated. “They can be called an asset, fine, but they are not a very good version of money because it’s not a very stable store of value where they fluctuate a lot. And it’s not a very efficient medium of exchange because you don’t buy your groceries with bitcoin.”

The big question is – will the G20 Summit scratch the surface of possibilities in the crypto world?