Team Blitz India
NEW DELHI: Finance Ministers and Central Bank Governors (FMCBG) from G20 nations adopted a roadmap for regulating crypto assets proposed by the Financial Stability Board (FSB) and the International Monetary Fund (IMF) at their meeting at Marrakesh in Morocco.
The Ministers and Central Bank Governors also decided in their joint communique to take forward key proposals from the New Delhi Leaders Declaration.
The FSB and IMF roadmap focuses on regulations rather than an outright ban to prevent crypto assets from destabilising the world economy.
The FMCBG communique noted the need for transformative changes required in Multilateral Development Banks (MDBs) operating models and financing capacities to address global challenges, as recommended by two part report by Independent Expert Group, led by economists NK Singh and Lawrence Summers.