G20 to Announce New Crypto Regulations in June?

G20 countries are all set to announce new cryptocurrency regulations during their meeting on June 8-9 in Fukoka, Japan. The countries are going to specifically discuss a framework to combat crypto-based money laundering and terrorist financing. Japanese media outlet Kyodo was the first to report this development.

The meeting will be attended by the central bank governors and finance ministers of the G20 member countries. It is expected that new regulations will be announced during this meeting. The core idea behind the new crypto regulatory framework is to keep the transactions transparent.

It is noteworthy that in a G20 meeting last year, Mike Carney, the then head of the Financial Stability Board (FSB) and the Bank of England Governor, told G20 members that cryptocurrencies do not pose any risk to the world’s economy. They had also called for crypto taxation in Decemebr 2018. India is also a G20 member country, and we hope that the government is paying close attention to the progress in the cryptocurrency regulations across the globe.