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Bitcointalk g20G20 Countries Start Implementing Unified Crypto Standards - BitcoinTalk
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They have also agreed to follow the FATF recommendations including those concerning crypto assets. The FATF held its annual Private Sector Consultative Forum in Austria earlier this month with its members and over representatives from the private sector participating.
Technological innovations, including those underlying virtual assets … may deliver significant benefits to the financial system and the broader economy. Post Thu May 30, am But that is not the case in China.
In a post on social media by Dovey Wan, founding partner of Primitive Ventures, WeChat published a payment guideline and in it, the banning of merchant accounts taking part in Bitcoin trading was duly announced.
The Chinese government surely has other plans as far as cryptocurrencies are concerned. Post Wed Jun 19, pm An enterprise with a multifaceted portfolio of blockchain-dependent businesses in marketing communications and technology, BC Group has the belief that custody service does away with one of the major limitations that constituted being obstacles to experienced traders and ventures interested in combining cryptocurrencies to their portfolios till the present moment.
The discussions focused on the mapping of virtual asset services and business models … and on the implementation of specific FATF recommendations. Their guidelines are thought of as a global benchmark in anti-money laundering efforts and the fight against illegal financing.
They are used by some countries despite not being legally binding, and now countries hope to adopt the same guidelines as they come face-to-face with crypto. As it stands, however, not everyone is on the same page as to the current recommendations on virtual currency, with former FATF President, Roger Wilkins AO and former secretary Australian Department of the Attorney General, stating that:.
The warning that overly restrictive regulations would drive crypto underground is not without basis — Iran and Venezuela are two recent examples where citizens continue to use Bitcoin peer-to-peer when their respective governments sought to ban them.
The G20 finance leaders and their central bank counterparts have already asked the Financial Stability Board FSB and global standards organizations to consider a multilateral crypto response.