India, the current G20 president, has issued a crypto presidential note in order to contribute its views to the development of global crypto standards. The note is the formal document that expresses India’s suggestions prior to the next iteration of establishing global crypto regulations, a synthesis paper issued jointly by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). The message is likely to be given during the G20 Leaders’ Summit in August. It requests actions such as promoting the effective implementation of FSB recommendations and other standard-setting bodies, taking macro-financial implications and risks specific to Emerging Markets and Developing Economies into account, conducting outreach to all jurisdictions to raise risk awareness, involving non-G20 members, and delegating responsibility for global crypto rules to the IMF and FSB. The note was initially proposed prior to the Finance Ministers and Central Bank Governors (FMCBG) conference in India, and G20 countries requested amendments to the note, arguing that any document issued by India as the G20’s current president should represent the collaborative consideration of members.
OKX Wallet, its decentralised wallet, now has a “Smart Account” function. For accessibility and user-friendliness, this feature masks technical aspects of on-chain interactions. It integrates users’ smart contracts and externally held accounts into a single Smart Account, letting users pay for transactions with stablecoins such as USD Coin or USDT. OKX intends to offer further account-abstraction capabilities, such as social recovery, to assist users in regaining access to their Smart Account. The functionality is designed to accelerate Web3 adoption by enabling new use cases and user experiences.