Breakthrough has not occurred. At the summit in Buenos Aires, the heads of the countries “Big twenty” discussed the creation of an international system of taxation of cryptocurrencies, as well as their regulation in accordance with the standards of the Group of development of financial measures of struggle against money-laundering (FATF). But a more substantial discussion will take place in 2019, and only by 2020, “twenty” plans to agree the final versions of the regulations.
In the text jointly composed by the leaders of the document refers to the importance of an open financial system to further economic growth and the need to create a system of taxation for cross-border electronic payment services. Representatives of the G20 promise to intensify efforts to improve sustainability in the field of non-Bank financial intermediation.
The document also notes that, given the rapid pace of digitalization of the global economy, it is necessary to reform the regulatory approach of cryptocurrency or “crypto-asset”
“We are going to regulate crypto-assets to combat money-laundering and combating the financing of terrorism in accordance with FATF standards”, — the document says.
We will remind, in the summer, the Finance Ministers and Central Bank governors of the G20 countries met in Buenos Aires and stated that cryptocurrencies do not pose a risk to global financial stability.