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Cyber Bitcoin reported that at the G20 meeting in Fukuoka, Japan, the finance director and his central bank counterparts have submitted a joint request to the Financial Stability Board (FSB) and the Global Standards Organization to provide a collaborative response to monitor the risk of cryptographic assets.

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The document was signed by leaders and urged agencies to focus more on cryptographic assets and consider relevant steps, including multilateral actions,

We ask FSB and standards setting agencies to monitor risks and consider the need for additional multilateral responses... [considering] technological innovation, including basic assets, can bring significant benefits to the financial system and the wider economy.

The second half of the sentence is a copy of the G20 summit held in Buenos Aires last year, during which the blockchain also expressed bullish sentiment. After repeating this optimism, the author of the paper did raise worrying concerns about emerging technologies,

While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant, including risks associated with consumer and investor protection, anti-money laundering (AML) and counter-terrorism financing (CFT).

This indicates that Member States hope to adopt the Financial Action Task Force (FATF) Virtual Assets Explanatory Notes and Risk-Based Virtual Currency Methodology Guide at the plenary session in late June. Leaders also stated that they reaffirmed their commitment to apply the recently revised FATF standard to cryptographic assets.


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