Governments All Over the World Will Decide the Fate of Cryptocurrency at the Summit of the G 20

Finance ministers and world central banks will discuss the new rules regarding cryptocurrency at the G20 summit in Buenos Aires this week.

Against the background of large-scale changes that cryptocurrencies can serve only for criminal purposes and money laundering, the G20 summit emphasized the importance of discussing these points of view. They may include regulatory measures, such as the decision of the Financial Action Commission of Britain last week to issue a license for American cryptocurrency exchange Coinbase. The Coinbase e-money license from FCA was a confirmation that its business meets specific anti-money laundering and processing standards.

Most likely, politicians will discuss issues of consumer protection and measures to fight with money laundering, which are currently not available in this market. This opinion was supported by Thomas Halme, the  lawyer of a law firm in London:

“In the last month, there have been several examples of government and regulatory actions towards cryptocurrencies. This shows acknowledgment that cryptocurrencies and blockchain have a potential to be used in a positive and productive way but also that the illegal activity within cryptocurrencies needs to be addressed.” Official Letter acknowledges cryptocurrencies as “Not a threat”.

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