 | G20 countries have big plans with crypto. This was revealed in a recent crypto regulation roadmap released by India. The country emphasizes the necessity of dealing with the risks of digital assets in developing economies. India promised it would focus on crypto when it assumed the presidency late last year and it could have an impact before its term is up, in autumn. Now, this ties in to the G20's attitudes towards crypto. Not surprisingly, each G20 country has its own opinions about different topics, and crypto is no exception. SO, this brings us to the big questions, and that's what does all of this really mean for the crypto market? G20's presidencies can have a profound effect on the policies being pushed by the organization, and guess which country in next in line for the presidency? Brazil, followed by South Africa. This means that next year's troika will be significant. It will consist of India, Brazil and South Africa. So, what do these countries have in common? They're all part of BRICS! An international organization that's analogous to the G20 and consists of Brazil, Russia, India, China and South Africa. This is REALLY significant because BRICS countries are reportedly in the process of trying to de-dollarize. So, BRICS countries have proposed almost everything, from creating a unified digital currency to a joint currency that will be backed by commodities, such as gold. Not only that, but Russia considers using crypto for trade and Brazil is extremely pro crypto. What this means is that there's a high likelihood that the G20 sentiment towards crypto will change from negative to positive starting next year when Brazil takes the presidency. And this sentiment should continue under the South African presidency in 2025. In my opinion, this is very likely really bullish for the crypto market, but there's just one thing however... and that's 2026. According to a recent joint statement by the US and Indian Governments, the US will assume the G20 presidency in 2026. Changes are that the US will still be anti-crypto in 2026 and this is basically guaranteed if the current administration stays in power. This means that the crypto industry could face a lot of difficulties in 2026. But, the harsh truth is that we don't really know until it happens. What are your thoughts on this? Looking forward to hear your opinion. [link] [comments] |
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