G20 participants will start creating a regulatory framework for digital payments.

Participants in the G20 Club agreed to lay the regulatory framework for digital payments.

According to officials, the first changes should begin from October of the current year, after the meeting of the Ministers of Finance and their deputies in Washington. However, this direction is fully planning to work only on the November summit in Er-Riyadh.

Governments of countries have decided to reconsider their policies on this issue after China has successfully developed a digital yuan and began to integrate it into existing economic systems. An additional incentive was the waiting for the launch of the Facebook Libra project.

The financial stability council in February drew attention to the lag of most countries in this matter. Then the chairman of the organization Randal Kuorlz stated that regulators do not have time for the rapid development of digital currencies.

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