Janet Yellen Calls for Strong Crypto Regulation at G20 Meeting
During the G20 meeting for finance ministers and central bank governors, U.S. Treasury Secretary Janet Yellen emphasized the need for a robust regulatory framework for cryptocurrencies.
Yellen clarified that the U.S. has not proposed an outright ban on crypto activities but stressed the importance of strong regulation. She also mentioned that the U.S. is working with other governments on this issue.
The topic of crypto regulation was among the key discussions at the G20 meeting, and India has been pushing for international cooperation on this front.
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have been asked to develop a joint paper on crypto to help formulate a coordinated and comprehensive policy approach.
The Securities and Exchange Commission (SEC) in the U.S. has recently increased its enforcement efforts against crypto firms, charging several companies for various violations.
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Meanwhile, IMF Managing Director Kristalina Georgieva also called for more regulation of crypto assets, warning that outright bans may be considered if regulation fails or is too slow.
The IMF executive board also provided guidance to help countries develop effective crypto policies, advising against granting official currency or legal tender status to crypto assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
