G20: Necessary for Stablecoin Regulation
At the G20 meeting in Jakarta on July 15-16, government figures who are members of the G20 Indonesia Presidential emphasized the need for regulation on stablecoins and cross-border coordination between countries.
Regarding that, the accompanying public statement states,
“All parties support strengthening coordination in the implementation of relevant international standards, focusing on preventing cross-border spills and maintaining global financial stability. All parties support the continued implementation of the ‘G20 Cross-border Payment Roadmap’, agree to strengthen cross-border coordination, and strictly supervise various types of crypto assets such as stablecoins.”
Currently, the crypto industry appears to be expanding, with many retailers and institutions expressing interest in crypto. El Salvador and the Central African Republic are no exception, which have used crypto as their economic system.