- It came from Minister Janet Yellen
- She announced robust rules for the industry
During the G20 summit, US Treasury Secretary Janet Yellen reportedthat the state does not plan to ban cryptocurrencies. But he works on reliable laws.
Ms. Yellen explained that today it is extremely important to create a strong regulatory framework for the subjects of the crypto market. She also stressed that the US is not proposing a “complete ban on cryptocurrencies.”
Other G20 statements
Yellen’s rhetoric echoes that of IMF Managing Director Kristalina Georgieva. She stated that regulation of the industry is a priority for world authorities.
In addition, Georgieva pointed out to journalists the need to distinguish central bank digital currencies (CBDC) from stablecoins and cryptocurrencies. The former are issued by de facto states. Behind cryptocurrencies are issuers and miners who are not government organizations.
Indian Finance Minister Nirmal Sitharaman gave his assessment. He called on his G20 colleagues to work together on the macroeconomic aspects of digital assets.
On February 23, the IMF issued a controversial statement. He urged countries not to recognize bitcoin as legal tender. On the other hand, the organization does not oppose the crypto industry as such. The IMF offers its regulatory framework related to macroeconomic and legal issues, as well as international cooperation in blockchain technologies.
