https://news.bitcoin.com/japan-g20-cryptocurrency-regulation/
It remains to be seen whether the other G20 countries are interested though.
Quote
Japan is preparing to share its experience regarding cryptocurrency regulation with finance ministers and central bank governors from other G20 countries at the upcoming summit which it will host in June. According to local media, Japanese regulators have a solution for crypto regulation to offer the G20 countries.
According to local news outlet Sankeibiz, Japanese regulators have created a handbook “that each [G20] country can use for regulations, such as measures to prevent the outflow of virtual currency.”
“International rules are being developed to prevent money laundering and terrorist financing, with virtual currency restrictions in place,” the news outlet described Monday. “On the other hand, there are no rules in terms of the protection of customer assets and the soundness of the market, so it is the first time that certain ideas are shared internationally,”
According to local news outlet Sankeibiz, Japanese regulators have created a handbook “that each [G20] country can use for regulations, such as measures to prevent the outflow of virtual currency.”
“International rules are being developed to prevent money laundering and terrorist financing, with virtual currency restrictions in place,” the news outlet described Monday. “On the other hand, there are no rules in terms of the protection of customer assets and the soundness of the market, so it is the first time that certain ideas are shared internationally,”
It remains to be seen whether the other G20 countries are interested though.
I really appreciate what Japan is trying to do. They are the pioneer to legalize cryptos and they have also understood that a big knowledge gap is preventing other countries to adopt cryptos. It's commendable that at least they are trying to beidge the gap.
Even though the orthodox countries will not going to change their stance, but at least they will get the idea of how things can be regularize instead of an blanket ban!
