G20 moves forward with international crypto framework

The next framework will affect users in multiple countries by automatically exchanging crypto transaction information between jurisdictions on an annual basis.

News Join us on social media

Leaders of the world's 20 largest economies — collectively known as the G20 — are pushing for a swift implementation of a cross-border framework for crypto assets.

According to local reports in New Delhi – where members of the group are taking part in a two-day summit – the framework will facilitate the exchange of information between countries from 2027.

“We call for the rapid implementation of the Crypto-Asset Reporting Framework (CARF) and changes to the CRS [Common Reporting Standard]. We call on the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to begin exchanges through relevant jurisdictions,” notes a consensus statement signed by G20 leaders. /p>

Several countries would be affected by the next framework, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. , the United Kingdom and the United States, as well as the European Union. Two-thirds of the world's population lives in a G20 country.

At the One Family session of the G20 Summit, we discussed how to think collectively about empowering other humans and making our planet more inclusive and more sustainable. .

I set an example of how technology has been harnessed to make a positive difference in the lives of… pic.twitter.com/SqT9OjStps

— Narendra Modi (@narendramodi) September...