Topic: [2017-12-19] G20 to Discuss Bitcoin at Upcoming Summit (Read 81 times)
This is good news and I would say it is not surprising that big governments want to address this topic as quickly as possible. Most governments are just about starting to talk about how bitcoin can be regulated while the price and popularity of bitcoin surges incredibly, so they are already late, I would say. But better late than never.
France’s Finance Minister Bruno Le Maire is pushing for a discussion on Bitcoin regulation at the G20 summit in April 2018. Reuters reports that the minister will ask G20 president Argentina to put Bitcoin on the agenda. Le Maire explained his initiative:
“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin. There is evidently a risk of speculation. We need to consider and examine this and see how … with all the other G20 members we can regulate bitcoin.”
G20 representatives have already discussed Bitcoin with the Financial Stability Board (FSB), which has been reviewing the tech since 2016.
It seems that countries are adopting a multinational approach to cryptocurrency regulation. With the EU agreeing to crack down on Bitcoin anonymity, it would only be logical that such initiatives will appear on a more global scale.
Regulators realize that only a uniform position towards cryptocurrencies across regions will be effective. There is nothing preventing investors from using more lenient legislation in a neighboring country to exchange Bitcoin, just like it happened in China. After the crypto exchange and ICO ban, investors moved elsewhere, which led to the flourishing of Korean and Japanese exchanges.
More: https://dowbit.com/bitcoin-regulation-will-be-discussed-at-g20-summit/
“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin. There is evidently a risk of speculation. We need to consider and examine this and see how … with all the other G20 members we can regulate bitcoin.”
G20 representatives have already discussed Bitcoin with the Financial Stability Board (FSB), which has been reviewing the tech since 2016.
It seems that countries are adopting a multinational approach to cryptocurrency regulation. With the EU agreeing to crack down on Bitcoin anonymity, it would only be logical that such initiatives will appear on a more global scale.
Regulators realize that only a uniform position towards cryptocurrencies across regions will be effective. There is nothing preventing investors from using more lenient legislation in a neighboring country to exchange Bitcoin, just like it happened in China. After the crypto exchange and ICO ban, investors moved elsewhere, which led to the flourishing of Korean and Japanese exchanges.
More: https://dowbit.com/bitcoin-regulation-will-be-discussed-at-g20-summit/
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