G20 leaders require regulators to monitor cryptocurrency-related risks

On June 9, a document published on the Ministry of Finance website pointed out that the G20 leaders asked regulators to monitor the risk of cryptocurrency and requested a multilateral approach to make cryptocurrencies work properly. The document was signed by the G20 leader and required the international financial regulator, the Financial Stability Board (FSB), to work with other agencies to monitor the risks associated with cryptocurrencies. At the same time, the document said that technological innovations such as blockchain technology can significantly improve the financial system and economy, but while crypto assets do not pose a threat to global financial stability at this time, they still need to be vigilant about risks, including consumers and investment. Protection, anti-money laundering (AML) and the risks associated with combating terrorist financing (CFT).