G20 member countries are now looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency, document shows.
According to a statement issued on Sunday, finance ministers and central bank governors of the G20 member countries hosted a meeting during the weekend and reiterated their position on “vigilant” monitoring over cryptocurrency.
The member countries further called on the Financial Action Task Force (FATF) – an intergovernmental body formed to fight money laundering and terrorist financing – to clarify in three months how its existing AML standards can apply to cryptocurrency.
“While crypto-assets do not at this point pose a global financial stability risk, we remain vigilant.
As previously reported by CoinDesk, the G20 initially asked for an AML standard on cryptocurrency from the FATF in March, as part of its wider push for global regulatory recommendations on the issue.
G20 member countries held a summit devoted to digital assets. Currently, they are looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency.
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The Financial Stability Board (FSB) has unveiled its monitoring framework for cryptocurrencies. The FSB framework comes as the Finance Ministers and Central Bank Governors of the G20 member nations head for a summit in Buenos Aires, Argentina.
The Financial Stability Board (FSB) has unveiled its monitoring framework for cryptocurrencies. The FSB framework comes as the Finance Ministers and Central Bank Governors of the G20 member nations head for a summit in Buenos Aires, Argentina.
Earlier this year, top financial heads of the G20 country had a discussion for cryptocurrencies and their role in the global economy. At that time, the leaders pledged for having “unified regulations” towards the functioning of digital currencies.
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