In line with a recent report by local media outlet ‘Kyodo’, the G20 member countries next meet to discuss global cryptocurrency ‘AML’ Anti-Money Laundering regulation on ‘8th and 9th June‘, this year in Fukuoka, Japan.
According to the report, and in accordance with ‘official plans‘, G20 central bank governors and finance ministers will participate within the meeting. The event would be centred on establishing a framework to combat cryptocurrency enabled ML [Money Laundering] along with terrorism funding.
Further, as per Kyodo, it’s expected that “it was revealed” on 4th April that the countries are expected to succeed in an agreement over new laws and regulations throughout this G20 meeting. The report states that the main aim is anti-anonymity. Namely, the group is reportedly trying to determine stricter identification of people transacting in cryptocurrencies at the moment of transaction, to keep asset flow transparent.
As ‘reported‘ earlier in Dec. last year, the G20 countries have already called for “a taxation system for cross-border electronic payment services” along with the regulations to combat the issue of ML [Money Laundering]. It has been reported at the time that the G20 member countries, that then gathered in Argentina, would take into account the problem during this year’s meeting “when Japan will be the president of the summit.”
Even in March, the founder and chief executive officer of United Kingdom-based digital banking application named ‘Revolut’ publicly denied allegations of laundering-related breach and negligence by the firm.