G20 elaborates standards for combating money laundering with crypto

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4 months ago
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The member states of the G20 signed an agreement, according to which a standard for anti-money laundering (AML) on cryptocurrency will be developed.

On a meeting of finance ministers and heads of central banks of the G20 participating countries the importance of close monitoring of crypto field was again underlined.

To develop the AML standard Financial Action Task Force (FATF) will be involved, which explores the possibility of applying existing anti-money laundering measures against cryptocurrencies.

Recently in mid-July, Financial Stability Board G20 announced its plans to implement a framework designed to assess the risks of cryptocurrency.