G20 is looking for a compromise in the international regulation of the crypto-active market

A consensus has been reached between the countries that crypto assets are a commodity, not a currency, Russian Deputy Finance Minister said.

“The Big Twenty” is looking for a compromise solution in the issue of international regulation of the crypto-active market, said in an interview with TASS Deputy Finance Minister Sergei Storchak.

The G20 is now seeking a compromise in resolving the issue of regulating the crypto-active market. Consensus has already been reached in the understanding that this is not a currency. This is a commodity that is not a legal tender. “We consider the cryptocurrency an asset, and at the global level it is the dominant trend” – he said.

According to Storchak, on the G20 financial meeting, the dispute is about what needs to be done earlier – to adopt national legislation to regulate this market in each of the G20 countries, or based on the historical experience of the G20, to develop immediately multilateral agreements on the regulation of the crypto-active market.

“There is no consensus on this issue yet, and it needs to be found until this market has become global in scale, it is still a local one, albeit transboundary” – Storchak said. Source: tass.ru

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