News

G20 countries will regulate crypto-assets in line with FATF standards

On November 30 and December 1, the 2018 G20 Buenos Aires summit, the thirteenth meeting of Group of Twenty (G20), was held in Buenos Aires, Argentina.

According to the section 25 of G20 leaders’ declaration, G20 countries will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with Financial Action Task Force (FATF) standards and will consider other responses as needed.

The section 26 reads that G20 countries “will continue to work together to seek a consensus-based solution to address the impacts of the digitalization of the economy on the international tax system with an update in 2019 and a final report by 2020.”

“An open and resilient financial system, grounded in agreed international standards, is crucial to support sustainable growth”, – reads the declaration.