G20 finance leaders commit to clearer digital asset rules to support innovation

G20 finance ministers and central bank governors have agreed to create clearer rules for digital assets to encourage financial innovation. The decision came after a two-day meeting in Asheville, North Carolina.

The officials recognized that digital assets, a type of virtual currency or token, can help drive economic growth and private sector innovation. They committed to developing responsible regulatory frameworks that support stability while fostering new financial technologies.

Clearer rules for cross-border stablecoins

The group said they are awaiting findings from the Financial Stability Board on the global impact of stablecoins—digital currencies pegged to traditional assets like the US dollar—as well as challenges related to data availability.

Support for faster cross-border payments

The G20 reaffirmed its commitment to improving cross-border payments and asked member countries to extend the operating hours of large-value payment systems.

Several G20 members, including the US, EU, and Japan, have already introduced frameworks for digital assets or stablecoins after reviewing their potential to improve financial and payment systems.

What the G20 statement says

In their official statement, the leaders said: "We commit to advancing responsible and effective regulatory and supervisory frameworks that preserve financial stability, support economic growth, and establish clear pathways for sound digital financial and digital assets innovation, while considering cross-border opportunities and challenges as appropriate."

Sources

• The Block