APEC finance ministers to share views on crypto at assembly in San Francisco

The weeklong Asia-Pacific Financial Cooperation (APEC) summit started on Nov. 11 in San Francisco. The spotlight of the occasion will certainly be on the sidelines, when United States President Joe Biden and Chinese language chief Xi Ping meet on Nov. 15. However with the main focus of the group being on the regional economic system, the finance ministers’ assembly can be of main significance.

U.S. Treasury Secretary Janet Yellen mentioned in her opening speech on the finance ministers’ assembly on Nov. 13 that they’ll talk about “precedence areas [that] are oriented towards the long-term,” with a heavy emphasis on sustainability. They may also maintain one session dedicated to supply-side economics and one other on digital belongings. Yellen talked about unbacked crypto belongings, stablecoin and central financial institution digital forex particularly.

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