G20 Summit: Cryptocurrency Regulations Get A July Deadline

The G20 Summit of March 2018 has come up with July as the deadline for the cryptocurrency regulations. The member nations have unified on examining the cryptocurrencies to gather data before proposing regulations. Meanwhile, the G20 nations will be following the FATF standards for money laundering.

A consolidated cryptocurrency regulation decision

The two day G20 Summit of March in Buenos Aires, Argentina is coming to an end and the world’s economic leaders have set the deadline for a unified cryptocurrency regulation that is July this year.

After the G20 meeting of central bank governors and finance ministers, the chair of the Argentina Central Bank, Federico Sturzenegger said that the present member nations have agreed on the need of cryptocurrencies to be inspected. Additionally, regulations can’t be proposed until more information is gathered about digital currencies.

This certainly means that a crackdown is definitely out of the picture, though these world leaders are more inclined towards defining cryptocurrencies as assets instead of currency.

During the press conference, Sturzenegger stated that all the members recommended July as a firm deadline, further explaining that: