In the meantime, the G20 pledged to apply the standards of the Financial Action Task Force (FATF) - an intergovernmental body formed to fight money laundering and terrorist financing - to cryptocurrency.

In statement released Tuesday afternoon, the G20 said:

"We commit to implement the FATF standards as they apply to crypto-assets, look forward to the FATF review of those standards, and call on the FATF to advance global implementation. We call on international standard-setting bodies (SSBs) to continue their monitoring of crypto-assets and their risks, according to their mandates, and assess multilateral responses as needed."