G20 2023

The G20 announces plans to build a global crypto framework

By Yugocean | Crypto Champion | 11 Sep 2023

     Global economic powers at the G20 summit are considering bringing a global crypto framework by 2027. The what, which, and when are answered, but not the how.

A Consensus Announcement to Tax Crypto

     G20 leaders made a consensus announcement aimed at taxing crypto, which proposes faster implementation of the CARF (Crypto-Asset Reporting Framework) and amendments to the CRS (Common Reporting Standard) to automatically exchange information on crypto transactions between all jurisdictions.

Attack on Crypto Attack on Needy

     Since disabled people have also started earning income from crypto, anti-disabled gangs are also against crypto. India's Finance Minister, Nirmala Sitharaman, is of Dalit nature and dislikes disabled people, orphans, etc. So supposing the anti-crypto decision based on the IMF is not a surprise.

Time will tell

     All countries have their own policies; for example, the crypto industry in India is burdened with excessive taxes but booming in Brazilian business, while crypto and economic freedom are issues in the US presidential election. Only time will tell what the G20 announcement will do.

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