Financial authorities from the Financial Stability Board (FSB) and 11 international organization have met in New York in order to discuss global standards of cryptocurrency regulations.
These discussions serve as a prelude to G-20 summit to be held in Osaka, Japan in June during which Tokyo is expected to push for a harmonized global regulatory framework on cryptocurrencies. The G20 finance chiefs discussed risks associated with cryptocurrencies and issued a joint declaration when they met in Buenos Aires, Argentia, in December, 2018.
The board explained that they are working on two different areas, monitoring the financial stability implications and a directory of cryptocurrency asset regulators.
The FSB will publish its report to the G20 in June, it said.
The G-20 has also reaffirmed its support for the global money-laundering watchdog, the Financial Action Task Force (FATF), which will continue working towards fighting against money laundering and terrorist financing.