G20 Leaders Pledge Crypto-Asset Regulation After Buenos Aires Meeting
As part of a statement released Sunday at a meeting in Buenos Aires, group leaders from 20 countries repeated their pledge to regulate "password assets."
In the Declaration of "Building a Consensus for Fair and Sustainable Development," G20 participants pledged a number of measures to help grow the global economy. As in previous group members' meetings, this document highlighted the Creep Talk currency as one area that required greater regulation.
"We will regulate password assets to prevent money laundering and respond to terrorist financing in accordance with FATF standards, and we will consider other countermeasures as needed," the document said.
The pledge came from a wider section to build an "open and resilient financial system" that is "important to support sustainable growth".
"We will continue to monitor and, if necessary, tackle the risks and vulnerabilities that are emerging in the financial system. Resolve disruptions through ongoing regulatory and supervisory cooperation. We are committed to continuing to achieve flexible non-bank financial intermediation I look forward to. "
The statement also said member states will work to realize the potential benefits of applying technology to the financial sector as part of such efforts.
The latest statement of this group continues the ongoing review of the cryptographic space. G20 finance ministers announced in March that they would seek specific rules from telephone calls from France, Germany, the United States and Japan.
According to the July document, it turns out that the deadline for October is being met to review documents on AML standards, but it is unclear whether they did.
G20 banner image via Alexandr Vorobev / Shutterstock
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