ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Wednesday Sep 19th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

G20’s Closing Statements On Cryptocurrency And Blockchain

By

Lucinda

Knapp

WriterETHNews.com

The G20 summit in Argentina closed its session with a directive for future development of crypto-asset and blockchain standards, protections, and innovation.

The recent G20 summit in Buenos Aires, Argentina, which took place over March 19-20, 2018, has come to a close. Representatives from around the globe addressed such topics as challenges to the cautiously improving global economy, creating sustainable growth, and fostering innovative economic policy while still exercising prudent restraint with regard to nations still reeling from crisis.

One recurring theme addressed by attendees was blockchain and cryptocurrency. It was determined that cryptocurrency should be classified as an asset, not a currency or security, and it was questioned how much of a risk the new technology poses to the global economic system. Additionally, some policymakers showed avid support for blockchain technology, in the period surrounding the transnational quorum.

Upon the event's closure this afternoon, the communiqué of the First Meeting of Finance Ministers and Presidents of Central Banks of the G20 was made available to press and the public. Included was a statement on crypto-assets and digital finance:

"We acknowledge that technological innovation, including that underlying crypto-assets, has the potential to improve the efficiency and inclusiveness of the financial system and the economy more broadly. Crypto-assets do, however, raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing. Crypto-assets lack the key attributes of sovereign currencies. At some point they could have financial stability implications. We commit to implement the FATF standards as they apply to crypto-assets, look forward to the FATF review of those standards, and call on the FATF to advance global implementation. We call on international standard-setting bodies (SSBs) to continue their monitoring of crypto-assets and their risks, according to their mandates, and assess multilateral responses as needed."

In pointing out issues of consumer protection, market stability, illegal activities, and the importance of standards to further development, the G20 highlights areas of intensified focus as a bellwether for future development. 

Lucinda Michele Knapp

Lucinda Michele Knapp is a journalist with over fifteen years of experience covering tech, art, and culture in Los Angeles. Her articles have appeared in the Los Angeles Times, Variety, and Out Magazine among others. She spins fire, dispenses grammar advice, and knows kung fu.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest G20, cryptocurrency or other Ethereum world news.