CRYPTOCURRENCY
IMF Emphasizes Digitalization in Financial Inclusion Agenda
IMF Managing Director Kristalina Georgieva emphasizes the role of digitalization in expanding financial inclusion. She calls for a balanced approach that includes regulation to ensure financial stability. The IMF has also been active in digital finance, recently presenting a crypto-risk assessment tool.
EU Council Adopts DAC8 Directive to Enhance Tax Oversight on Crypto Transactions
The Council of the EU has adopted the DAC8 directive to enhance administrative cooperation among national tax authorities concerning crypto-asset transactions and tax rulings for high-net-worth individuals. The directive broadens the scope of assets covered, mandates automatic information exchange, and aligns with global standards set by the OECD and G20 to address challenges posed by the digital economy.
India Advocates for Global Cryptocurrency Framework at G20 Summit
India's Prime Minister, Narendra Modi, emphasized the need for international collaboration in creating cryptocurrency guidelines at the G20 summit, aiming to align regulations with global standards, despite the ambiguous regulatory environment.
G20 Announces Standards for Global Crypto Regulation
G20 countries have announced that the Financial Stability Board, the International Monetary Fund, and the Bank for International Settlements will release recommendations on global crypto regulation by July.
G20 To Establish Standards For Global Crypto Regulatory Framework
The Financial Stability Board, IMF, and BIS will propose worldwide crypto regulations.
IMF Urges Countries to Consider Banning Cryptocurrencies
US Treasury Secretary Janet Yellen underlined the need for effective cryptocurrency regulation.
G20 Discusses Crypto Regulations Under India Presidency
G20 members reviewed technological advancements and dangers during the FMCBG conference on Feb. 24–25.
OECD Presents New Transparency Framework for Crypto-Assets to G20
For the upcoming G20 finance ministers' meetings, leaders are going to discuss the CARF framework that builds on certain enhancements to the Common Reporting Standard (CRS).
G20-Backed FSB Sets Out Roadmap for Stablecoins and CBDCs, Optimizing Cross-Border Payment System
The FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.
Japan’s Financial Services Agency Has Officially Chosen a New Commissioner, Himono
Japan's Financial Services Agency (FSA) confirmed its plans for hiring Ryozo Himono as the new commissioner of the financial watchdog group.