Overview
- The G20 finance ministers and central bank governors issued a Chair’s Statement in Asheville on Sept. 1 that pledged to advance clearer regulatory and supervisory frameworks for digital assets to protect financial stability.
- Officials specifically asked the Financial Stability Board to publish work on global stablecoins, focusing on cross-border effects and gaps in available data for supervision.
- The group reaffirmed the Roadmap for Enhancing Cross-border Payments and encouraged wider use of the ISO 20022 messaging standard plus longer operating hours for large-value payment systems to reduce settlement frictions.
- Implementation will remain national: the EU’s MiCA licensing is now active, Japan passed July reforms and set up a crypto division, and the U.S. GENIUS Act creates a federal stablecoin framework but awaits key implementing rules after regulators missed a July deadline.
- The statement also pushed stronger, risk-based AML/CFT supervision under FATF guidance and set clear next steps with a follow-up finance ministers meeting in Bangkok on Oct. 15 and leaders’ discussions in Miami in December that will track technical progress.