Japan Will Call G20 to Actions Against Money Laundering via Cryptocurrencies

Published on 13 Mar. 2018

Japan plans to use the summit of the Group of 20 (G20) that will take place next week, to call upon the common regulatory measures on the fighting the use of cryptocurrencies in money laundering.

The news became known from the Reuters reports with reference to the official who objectively evaluates the situation. The point is that the possibility of coming to the agreement and concluding on the single international rules is quite low since various countries regard cryptocurrency regulation differently.

The common thought among the G20 members is that the application of too strict rules will not be useful

— stated the official.

G20 summit will take place in Buenos Aires on the 19th and 20th of March.

If Japan calls for adopting joint actions on cryptocurrencies, it is likely to be supported. It is known that the USA minister of finance Steven Mnuchin claimed that he plans to raise a question on cryptocurrency regulation during the future G20 summit as far as the beginning of February. As well as the representatives of Japan, he talked about using cryptocurrency for money laundering and other illegal actions.

On February 9, high-ranking officials from France and Germany called the Group of 20 to discuss the joint actions concerning cryptocurrencies. In the letter to the Argentinean government that is leading at G20 at the moment, the French minister of finance Bruno Le Maire, the German minister of finance Peter Altmaier, and leaders of corresponding central banks expressed their concerns about the risks of investing in cryptocurrencies. 

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