Analysis News

G20 Watches Crypto

4th Meeting of Finance and Central Bank Deputies will be held in Buenos Aires from 19 to 20 July 2018. It is anticipated that proposals of cryptocurrency regulations will be approved on it.

Previous meeting was held on March, 20, 2018. On its completion Frederico Sturzenegger, Argentina Central Bank chair, stressed the member nations present agreed that cryptocurrencies needed to be examined, but that more information was needed before any regulations could be proposed. And it is a firm deadline in July for recommendations. “In July we have to offer very concrete, very specific recommendations on, not what do we regulate? but what is the data we need,” – said the chairman. The conclusion the world’s economic leaders agreed to was expressed by Financial Stability Board (FSB) chief and Bank of England governor Mark Carney, who stated cryptocurrencies ”do not pose risks to global financial stability at this time. This is in part because they are small relative to the financial system”.

Argentina is the host of all G20 meetings in 2018. It assumed the one-year G20 presidency on 30 November 2017. The final Leaders’ Summit will be held in Buenos Aires from 30 November  to 1 December 2018. As most cryptomarket observers say – it would be the date of final decisions on crypto regulation. In favor of this assumption is the fact that the possible participating guests of the Summit will be the leaders of Singapore and the Netherlands. These are the countries where cryptomarket is well developed.