G20 Nations On Cryptocurrency

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The G20 Summit held earlier this month established that the member nations do not consider cryptocurrencies a threat to the financial system as yet. A leaked document also stated that cryptocurrencies ‘lack the traits of sovereign currencies,’ thereby implying that the G20 considers cryptocurrencies to be assets rather than functional currencies.

Given this, it is interesting to see the outlook of the member nations (as independent countries) towards cryptocurrencies. 15 member nations have legalized cryptocurrencies, 6 maintain a neutral stand on this relatively recent financial phenomenon, 4 have restricted the use & trading of cryptocurrencies and 1 member nation has, well, declared cryptocurrencies and all related activities illegal.

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