Lawmakers expressed their support for the upcoming virtual assets summit, convened in response to the upcoming FATF cryptocurrency rules.
Crypto Summit Plans
Lawmakers approved the V20 summit, which will be held in parallel with the G20 Leaders Summit in Osaka on June 28 and 29. The summit will bring together representatives of the national blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details associations, VASP, and lawmakers from different jurisdictions.
The main objective of the summit is to resolve issues with the FATF, the international organization fighting against money laundering. The organization is trying to introduce recommendations that put the business of the cryptocurrency exchanges at risk.
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The participants will use the summit to study the evolution of possible technical solutions and the probable impact of the upcoming FATF proposal on how participating countries should supervise the digital assets sector.
As was previously reported, FATF is an intergovernmental organization established by the G7 to facilitate the implementation of legal, regulatory, and operational measures to combat money laundering.
The upcoming cryptocurrency summit is approved by the legislators and will be held on June 28-29. The organization has developed a set of recommendations recognized as an international standard for combating money laundering and funding illegal activities.
Editor: Yuliya Soroka