G20 Wants Crypto to Obey International Financial Laws
The G20 wants crypto assets to be subject to existing Anti-money Laundering Law (AML) and the Financial Action Task Force (FATF).
As a result of the G20 summit in Buenos Aires, the twenty most advanced economies agreed to regulate crypto assets in accordance with international standards. To eliminate the “dirty” money, the authorities will implement the AML practices.
To eradicate the terrorism sponsorship, the G20 will follow international FATF rules. Simultaneously, countries could apply other actions, if necessary.
On top of that, the G20 agreed to assess the impact of digital assets on the global economy, and the international tax system. The preliminary results of the observations should be presented next year, and the final ones will appear in 2020.