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Tag Archives: G20

G20 Agrees to Regulate Crypto, But is This Good or Bad for the Market?

The G20, an international forum for the governments and central bank governors from the world’s 20 largest economies, has decided to regulate the crypto sector. A declaration released by the forum read: “We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed.” What Impact ...

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G20 Members Note Crypto Regulation in Recent Declaration on Sustainable Development

The G20 mentioned crypto regulation in its recent declaration on sustainable development adopted in Argentina. The declaration was published on the official website of the Council of the European Union and the European Council Dec. 1. At a meeting in Buenos Aires on Nov. 30 and Dec. 1, G20 officials reiterated their concerns about the crypto industry along with its ...

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This Year’s G20 Put an Emphasis on Cryptocurrency Regulation

Global leaders walked away from the latest G20 Summit with a rough game plan for crypto regulation. This year’s G20 Summit took place in Buenos Aires, Argentina, from November 30 to December 1. International government officials, as well as some of the world’s largest corporations including Bank of America, Inter-American Development Bank, the World Trade Organization and the World Health ...

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G20 Countries to Regulate Cryptocurrencies in Line with FATF Standards

The G20 Countries have signed a joint declaration in Buenos Aires, where it promises to regulate cryptocurrencies and combat its use for money laundering and the financing of terrorism in line with the Financial Action Task Force (FATF) standards, per a Saudi Gazette report.Section 25 of the declaration signed by the forum reads: “We will regulate crypto-assets for anti-money laundering ...

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G20 Country Leaders Call for International Cryptocurrency Taxation

The G20 countries have called for the taxation of cryptocurrency, as well as its regulation to combat money laundering, Japanese news outlet Jiji.com reports Dec. 2. According to Jiji.com, the final text of a document jointly delivered by G20 leaders calls for “a taxation system for cross-border electronic payment services.” The article then specifies that under current laws, foreign companies ...

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G20 Hears Out Multiple Crypto Reports in July, Waiting for FATF to Test Its Standards by October

The G20, after it was called upon by France’s finance minister Bruno Le Maire to have a public debate about cryptocurrencies at the G20 Summit in Buenos Aires, made strides towards a global front for regulation of digital currencies. Those strides could however be only considered baby steps as, at the conclusion of a meeting of the finance ministers in ...

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G20 Nations Seek Cryptocurrency AML Regulation Standards by October 2018

The world’s biggest economies are now eyeing a definitive plan to apply anti-money laundering (AML) regulatory standards for the cryptocurrency sector by October this year. The Group of Twenty (G20) forum – a group of finance ministers and central bank governors from the EU and 19 of the world’s largest economies – has reiterated its intent to bring the cryptocurrency ...

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G20 Forum Shelves Deadline for ‘Very Specific Recommendations’ on Crypto

Cryptocurrencies will continue to receive a broadly hands-off approach from the G20 until at least October, a meeting of the forum confirmed July 21-22. A summary of interim decisions made by the dedicated Finance Ministers & Central Bank Governors (FATF) group sees any hard-and-fast regulatory steps regarding cryptoassets remain absent. The results follow a four-month consultation period which FATF enacted ...

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G20 Watchdog Develops ‘Vigilant’ Cryptocurrency Monitoring Framework

The Financial Stability Board (FSB), an international body tasked to monitor the global financial system while coordinating regulation for G20 nations, has published a new framework for monitoring cryptocurrency assets. With an announcement on Monday, the FSB published its report and revealed its standardized framework delivered to G20 finance ministers and central bank governors ahead of their meeting in Buenos ...

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South Korea to Loosen Crypto Rules in Cooperation With G20 Directive

South Korea, a country that has banned ICOs, plans to loosen restrictions on cryptocurrencies based on efforts by G20 to create uniform regulations, according to The Korea Times. The G20 meeting established a July deadline for taking a first step on “unified regulations.” The recent announcement from South Korea is part of a loosening of restrictions on cryptocurrencies as the ...

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