Japan will turn to the G20 for help in regulating the cryptocurrency industry

Japan will turn to the G20 for help in regulating the cryptocurrency industry

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A representative of the Japanese government said that his country would appeal to G20 members for help in preventing money laundering through the use of cryptocurrency. This is reported by Reuters.

Another senior official taking part in the G20 summit stressed that Japan is unlikely to achieve what it wants, since the approaches of the states are very different, which will prevent them from developing specific global regulations.

“The discussion at the summit will focus on AML measures and consumer protection, and not on the threat that cryptocurrency trading presents for the traditional banking system. In the G20 they are against the introduction of too strict restrictions, “- said another official.

Intergovernmental organization FATF will present at the summit a report on money laundering cases using cryptocurrency and effective ways to counteract this.

The meeting of the G20 leaders will be held on March 19-20 in Buenos Aires, Argentina.

Earlier, French and German finance ministers Bruno Le Mer and Peter Altmeier sent a letter to Argentinean counterpart Luis Caputo with a proposal to discuss the regulation of the сryptocurrency at the G20 summit.

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