On 10 July 2021, the G20 published a communiqué following the third Finance Ministers and Central Bank Governors meeting in Venice.
Among other things the communiqué:
- Reiterates the commitment to a timely and effective implementation of the G20 Roadmap to enhance cross-border payments by relevant authorities. In particular, it looks forward to the Financial Stability Board (FSB) report setting quantitative global targets for addressing the challenges of costs, speed, transparency and access, which is to be delivered in October 2021.
- Reiterates that no global stablecoins should commence operation until all relevant legal, regulatory and oversight requirements are adequately addressed through appropriate design and by adhering to applicable standards.
- Notes that in synergy with the FSB and with other relevant international initiatives, the G20 Sustainable Finance Working Group will deliver a multi-year G20 Roadmap for sustainable finance. The Roadmap will be presented to G20 Finance Ministers and Central Bank Governors at their October meeting and will orient the future G20 work on climate and sustainability issues.
