Cryptocurrencies out from G20 agenda until October
The group that brings together central bank governors and members' finance ministers has temporarily eased restrictions on digital currencies
During the recent meeting of the G20 in Argentina, participants expected the announcement of stronger measures regarding cryptocurrencies. However, the body issued a summary of decisions through a group of the Ministries of Finance and Governors of Central Banks (FATF) that leaves the issue out of its agenda at least until next October.
The governments’ concern regarding the regulations that would apply to digital currency, transactions and related crimes encouraged discussions that lasted four months.
Despite the dark panorama that is generated around the cryptoactives for crimes such as money laundering, scams and frauds, the leaders of the conference have recognized that these innovations have great potential to “improve the efficiency and the inclusion of the financial system and the economy in general”.
Regarding the restrictions that were foreseen, the participants in the forum of Argentina have requested the FATF to make clear in October the application of the standards to the cryptoactives.
Discussions should include key aspects such as consumer protection, market integration and the benefits to the global financial sector.
M.Pino
Source: Bullsoncryptostreet
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