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APEC finance ministers to share perspectives on crypto at meeting in San Francisco


The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden and Chinese leader Xi Ping meet on Nov. 15. But with the focus of the organization being on the regional economy, the finance ministers’ meeting is also of primary importance.

U.S. Treasury Secretary Janet Yellen said in her opening speech at the finance ministers’ meeting on Nov. 13 that they will discuss “priority areas [that] are oriented toward the long-term,” with a heavy emphasis on sustainability. They will also hold one session devoted to supply-side economics and another on digital assets. Yellen mentioned unbacked crypto assets, stablecoin and central bank digital currency specifically.

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