G20

The G20’s Financial Action Task Force (FATF) is a powerful intergovernmental organization devoted to combating money laundering and terrorism financing. Recently, it released global standards for cryptocurrencies to better regulate the sector and thwart money laundering operations. The new standards introduced by the organization are supposed to help cryptocurrencies and crypto exchanges fight illegal activities carried out through them, although not everyone is happy about these new rigid standards. U.S. Treasury Secretary Steven Mnuchin offered…

Regulators need to improve their risk assessment of the cryptocurrency sector, the G20-sponsored Financial Stability Board (FSB) said on Friday. The global financial watchdog expressed concern over the current state of regulations over the crypto market, saying that the regulations are patchy at best. In a report for G20 finance ministers and central bank governors, the FSB warned that quick technological change could lead to serious gaps in policies on digital money. Regulators across the…

With the many ups and downs in the crypto space, I guess it is high time a sensible standard regulatory measure is formed. Fortunately, making it harder for cybercriminals and money launders may be closer than we think. The upcoming G-20 summit scheduled for 8-9th of June at Fukuoka Japan promises to address this issue with the utmost priority. The organization, which consists of the top 20 key economies and includes finance ministers and central…