The G20 consists of the United States, United Kingdom, European Union, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Russia, Saudi Arabia, South Africa, South Korea, and Turkey. Its members "represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population."

In a Leaders' Declaration released September 10, the G20 leaders called for "swift implementation" of the intergovernmental Organisation for Economic Co-operation and Development's (OECD's) Crypto-Asset Reporting Framework & Amendments to the Common Reporting Standard, a taxation and reporting framework for crypto-assets. They also endorsed "discussions on the potential macro-financial implications arising from the introduction and adoption of Central Bank Digital Currencies (CBDCs)."

Then, in its Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure released [last] week, the G20 endorsed exploration of "digital public infrastructure" (DPI) consisting of "digital ID, digital payments, and data exchange." Digital identification, the document claimed, "could further financial inclusion, especially in low- and middle-income countries, where insufficient documentation is often a barrier to account ownership."

The Epoch Times reported that "no talk of banning cryptocurrency" took place during the G20's weekend summit on the matter, but numerous officials are enthusiastic about a more digital future.

"India's presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets," said Nirmala Sitharaman, the Finance Minister of India... Subscribe for free to Breaking Christian News here

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