G20 members support digital asset policies to promote economic growth
G20 members have agreed to develop policies that support the potential of digital assets to promote "broad-based economic growth." A statement released by the U.S. Treasury Department on Tuesday showed that the G20, which currently holds the rotating presidency of the United States, said all member states had endorsed the statement on the "transformative role" of digital asset innovation. The organization also called on countries to improve cross-border payments and facilitate the transmission of data related to financial services.
G20 said in a statement: "We are committed to promoting responsible and effective regulatory frameworks to maintain financial stability, support economic growth, and open clear paths for sound digital finance and digital asset innovation, while considering cross-border opportunities and challenges as appropriate."
The G20 added that it is waiting for the Financial Stability Board to provide relevant results on "the global stablecoin arrangement and stablecoin data sources, availability and potential challenges."
This signal of support for digital asset policies and frameworks came after the United States and other member states enacted laws and regulations on cryptocurrencies and stablecoins. Relevant regulations include the European Union's Cryptocurrency Asset Markets Regulatory Framework (MiCA) and the U.S. National Innovation Act to Guide and Establish U.S. stablecoins (GENIUS Act).

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