Japan’s authorities intend to urge influential governments to develop international rules that would take account of different approaches to cryptocurrencies’ regulation in each particular country.
Japan plans to submit proposals for introducing global cryptotrading rules at the G20 summit that is taking place from 19 to 20 March in Argentina. The proposals aim at combating money laundering. According to Japan’s officials, one shouldn’t hamper the development of the crypto-sector, but insufficient regulation mustn’t give way to malefactors.
Also, the talks will deal with the issue of how cryptocurrency trading affects the banking system.
According to one of the officials, most G20 members think that applying tougher rules to cryptocurrencies wouldn’t be right. Besides, growing controls on the sector may affect the price of most cryptocurrencies.