G20 officials announced on July 11 that they would begin laying the regulatory groundwork for the group to accept digital payments. Digital currency payments may become a reality for G20 members before the next summit in Saudi Arabia.<\/p>\n\n\n\n
As reported<\/a> by Kyodo News on July 11, officials revealed that the G20 summit compromising representatives from 19 countries and the European Union will be laying the groundwork to accept digital payments. The changes are expected to begin in October, presumably at the G20 Finance Ministerial and Deputies Meetings in Washington DC and before the next summit in Riyadh in November.<\/p>\n\n\n\n According to the Japanese news outlet, G20 officials enacted the policy change in response to China\u2019s progress on creating a digital yuan, and Facebook\u2019s anticipated release of Libra. Cointelegraph reported in June that the People\u2019s Bank of China\u2019s Na\u00adtional Coun\u00adcil for So\u00adcial Se\u00adcu\u00adrity announced the completion of the backend architecture<\/a> development for the country\u2019s central bank digital currency (CBDC).<\/p>\n\n\n\n During the 2019 G20 summit in Osaka, leaders stated that cryptocurrencies did not constitute a threat<\/a> to monetary stability, and that technological innovation could deliver significant benefits to the economy. However, in October members said stablecoins posed a serious risk<\/a> to public policy and financial regulations. (source: cointelegraph.com)<\/p>","protected":false},"excerpt":{"rendered":" G20 officials announced on July 11 that they would begin laying the regulatory groundwork for the group to accept digital payments. Digital currency payments may become a reality for G20 members before the next summit in Saudi Arabia. As reported by Kyodo News on July 11, officials revealed that the G20 summit compromising representatives from 19 countries …<\/p>\nChanging positions on digital currency<\/strong><\/h2>\n\n\n\n