Japan Wants G20 Countries To Agree To Common Rules On Cryptocurrencies To Battle Money Laundering

Japan

TOKYO, Japan—Japan will call on leaders of the influential G20 to adopt a common rule on cryptocurrencies, especially in combating money laundering.



However, the same government source dispelled the likelihood finance leaders of the G20 will issue a joint communiqué on common digital currency rules as each of its member-countries have a varying approach to the issue, according to Reuters.

“Discussions will focus on anti-money laundering steps and consumer protection, rather than how cryptocurrency trading could affect the banking system. The general feeling among the G20 members is that applying too stringent regulations won’t be good,” stated the official in the Reuters report.

The finance ministers and governors of central banks of the Group of 20, an organization of the top economies in the world, recently met in Buenos Aires, Argentina with virtual currencies on top their agenda.

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