The G20 agreed to regulate cryptocurrency

Participating countries of the Alliance of the «Big twenty» (G20) agreed on the introduction of regulation in the sphere of cryptocurrency in accordance with the standards of the Group of development of financial measures of struggle against money-laundering (FATF). This сообщаетCCN.

The agreement was reached during the G20 summit held last week in Buenos Aires. In particular, there was signed a final Declaration in which the leaders of the countries «the twenty» have agreed on reforming the regulatory framework for scriptaction.

So, according to the document, the regulation of digital currencies will help to create an «open and stable financial system.» It is also stated that countries will use the standards of the FATF to regulate scriptaction in the fight against money laundering and the financing of terrorism.

«In light of the digitalization of the world economy the members of the Alliance recognized the need to develop an international tax system that would be relevant, as well as resistance to internal and external shocks», — stated in the article.

The first development in this area is planned to be presented at the next meeting of the countries participating in the G20 in 2019. The implementation of the project is scheduled for 2020.

WHY IS IT IMPORTANT

  • About the necessity of application of the FATF standards in respect of scriptaction the leaders of the G20 have already expressed repeatedly. Publication of the rules of international regulation of crypto-currencies developed by FATF, now scheduled for summer 2019.



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