G20 finance leaders vow to establish clear digital asset pathways

G20 finance ministers and central bank governors pledged to establish clearer rules and pathways for digital asset innovation. The G20 chair's statement followed a two-day meeting in Asheville, North Carolina. The officials said digital financial innovation, including digital assets, can support broad-based economic growth. They said it can also drive private sector innovation. The officials committed to advancing responsible and effective regulatory and supervisory frameworks. They said the frameworks should preserve financial stability and support economic growth. The G20 officials said they look forward to forthcoming Financial Stability Board findings on the cross-border implications of global stablecoin arrangements. The findings will also cover stablecoin data sources, availability and potential challenges. The officials reaffirmed their commitment to the G20 Roadmap for Enhancing Cross-border Payments. They requested that member countries expand large-value payment system operating hours. G20 members including the U.S., EU and Japan have already established frameworks for digital assets or stablecoins.