G20 Countries Believe that Crypto Exchanges Should Obtain Information About Users

Representatives of the countries of the Big Twenty spoke about cryptocurrencies at the summit, and they fully supported the developed principles of working with digital coins. The author of these principles is the Intergovernmental Organization, which develops world rules in the field of resisting money laundering – FATF.

This organization is wary of digital coins. They believe that high transaction speed in tandem with anonymity is a good environment for criminals and terrorists.

Recall that on June 21, the FATF published recommendations, according to which cryptocurrency exchanges should not only collect information about users, but also transmit it to regulatory authorities. Cryptocurrency sites must know the names, account numbers, and geolocation of users.

Leaders agree on this approach. They believe that cryptocurrencies do not pose a threat to the global financial system at this stage of their development, but in the long term, they can bring significant benefits to all mankind.

We want to remind:

G20 Members Ordered to Monitor Risks Associated with Cryptocurrency Trading

Leave a Reply

Your email address will not be published. Required fields are marked *