G20 calls for clearer rules to support digital asset innovation

G20 officials are signaling greater support for digital assets, calling for clearer regulatory pathways that can encourage innovation while maintaining financial stability. The commitment came in the Chair’s statement following a two-day meeting of finance ministers and central bank governors in Asheville, North Carolina. The meetings took place Aug. 31 and Sept. 1, following the group’s April gathering in Washington. US Treasury Secretary Scott Bessent, who leads the G20 finance track this year, said the group would pursue supervisory frameworks that support sound digital financial and digital asset innovation. The G20 stopped short of setting new binding rules for stablecoins, instead looking to the Financial Stability Board for work on the cross-border effects of global stablecoin arrangements and improving stablecoin data. Officials also reaffirmed the G20 roadmap for cross-border payments and encouraged countries to extend large-value payment-system operating hours. Digital assets have been part of Bessent’s G20 agenda since February, when he highlighted a vibrant digital asset ecosystem and improved cross-border payments alongside growth and other global economic priorities. ...