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G20 is considered the leader of the 20 biggest in the world which is rushing for a rapid implementation of the crypto assets of a cross-border framework.
The two-day summit was attended by the group members and the framework will easily exchange the information between countries beginning in 2027.
The G20 signed a Consensus declaration stating
We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions.
This will have an impact on various countries including Australia, Italy, Brazil, Japan, Canada, Mexico, China, France, Russia, Germany, Saudi Arabia, India, Turkey along with the United Kingdom and the United States, and the European Union.
In a G20, two-thirds of the world’s population lives.
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