Thursday, Oct 26, 2023
Executive Panel Session: Digital Finance and Crypto Assets Oversight – Where Do We Stand?
Crypto regulation was a key agenda of the G20 summit. While regulations and a framework have yet to be finalized, consensus emerged that a blanket ban was not feasible.
The joint declaration noted that the G20 will continue to “closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem,” and the leaders endorsed the Financial Stability Board’s (FSB’s) “high-level recommendations for the regulation, supervision, and oversight of crypto-assets activities and markets and of global stablecoin arrangements.”
The panel discussed:
- macro financial consequences,
- regulatory aspects,
- cross-border framework and cooperation; and
- supervisory implications.
William C. Dudley, Chair, Bretton Woods Committee (BWC); Former President and CEO, Federal Reserve Bank of New York
Nezha Hayat, Chairperson and Chief Executive Officer, Moroccan Capital Market Authority (AMMC)
Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges Riksbank (Central Bank of Sweden)
Olivier Fines, Head, Advocacy and Capital Markets Policy Research for EMEA, CFA Institute
Marina Moretti, Deputy Director, Monetary and Capital Markets, International Monetary Fund (IMF)
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