G20 leaders announced the regulation of cryptocurrency

[Paha87]

The leaders of 20 countries confirmed their commitment to regulate "cryptocurrency assets" in the framework of the communiqué issued on Sunday after the meeting in Buenos Aires.

In the Declaration entitled "building consensus on equitable and sustainable development", the g-20 committed itself to a number of measures aimed at promoting the development of the world economy. As in previous meetings of the group, the paper highlighted cryptocurrencies as one of the areas in need of broader regulation. The document says:

We will regulate cryptocurrency assets to combat money laundering and counter terrorist financing in accordance with FATF standards, and we will consider other measures as necessary.

Crypto regulation is also addressed in a broader section on building an "open and sustainable financial system," which, as noted in the paper, "is critical to supporting sustainable growth," which will thin out:

We will continue to monitor and, where necessary, address emerging risks and vulnerabilities in the financial system; and by continuing regulatory and Supervisory cooperation. We look forward to continued progress towards sustainable non-Bank financial intermediation.

Moreover, the statement says that the countries participating in the agreement will work to realize the potential benefits of technology for the financial sector as part of the agreed efforts.

The last statement of the group is a continuation of the constant study of the cryptocurrency space. The G20 Finance Ministers said they would look for specific rules after initiatives from France, Germany, the US and Japan that came in March this year.

Although the document from July indicated that the group is overseeing the October deadline for the review of the document on standards for countering the financing of criminal activities for cryptocurrency, it remains unclear what solutions are being taken in the light of this problem at the moment.

Link to the source of information (Russian) - https://altstake.io/news/lidery-g20-obyyavili-o-regulirovanii-kriptovalyuty