G20 finance ministers and central bank governors committed to developing regulatory and supervisory frameworks for digital assets that support innovation and economic growth while safeguarding financial stability, according to a Chair’s Statement following a two-day meeting in Asheville, North Carolina.
The officials said digital financial innovation, including digital assets, could contribute to broad-based economic growth, with the private sector playing a central role in developing the technology.
G20 Awaits FSB Findings on Global Stablecoins
The G20 said its approach would seek to accommodate responsible digital finance and digital-asset innovation while accounting for potential issues and opportunities that extend across borders.
As part of that work, officials are awaiting Financial Stability Board (FSB) findings on global stablecoin arrangements, including their cross-border implications and issues involving the availability and sources of stablecoin data.
Cross-Border Payments Work Remains a Priority
The focus on cross-border issues also extends to the G20’s broader payments agenda. Finance ministers and central bank governors reaffirmed their commitment to the G20 Roadmap for Enhancing Cross-border Payments and called on countries to pursue longer operating hours for large-value payment systems.
Several G20 jurisdictions, including the United States, the European Union, and Japan, have already introduced frameworks covering digital assets or stablecoins as policymakers examine their potential to improve the efficiency and accessibility of financial and payment systems.