The G20 supports the TF's cryptocurrency regulatory guidelines and says it is “effective and quick to execute”

The G20 summit in Osaka, Japan closed on June 29th. At this meeting, the FATF's new “Encryption Asset Supervision Guide” was approved in the G20, and it is said that it may be strengthened into an international standard. But it is also necessary to adopt appropriate regulations. Shallots found problems with virtual currency. The summit statement stated the following: “Currently, crypto assets do not pose a threat to the stability of the global financial system, but we will closely monitor progress while being alert to existing and potential risks. In addition, there are statements stating "Welcome to the FATF's statement and guidance." Scallion Note, previously the FATF official website officially released "risk-based perspective: regulation of digital assets and digital asset service providers' charter." At the same time, the FATF proposed to the Osaka Summit the approved application for “Standards for New Money Laundering and Terrorist Financing Measures for Idle Assets and Related Companies”. In addition, the G20 supports the international standards set by the FATF for “prevention of money laundering, provision of funds for terrorist activities, and proliferation of finance to prevent this behavior”. “The FATF standard will be required to be fully, effectively and quickly fulfilled.” The new guidelines developed by the FATF are likely to be strengthened into international benchmarks rather than pure guidelines.