Regulations of global cryptocurrency assets to be focus of G20 summit

Ongoing crypto market instability has prompted a call for global coordination on regulation to fend off attempts to ban or restrict digital currencies in some countries.

The cascade of crypto events in 2022, highlighted by the bankruptcy of crypto exchange firm FTX and its effect on trading and lending firms, underscored the inherent instability and weaknesses in crypto assets.

These incidents also showed a significant service provider collapsing can swiftly spread risks across the crypto-asset framework, making the ecosystem vulnerable.