- G20 summit to discuss a common currency.
- Framework for crypto assets.
- FATF playing a very active role to prevent misuse.
G20 Coming up with a common currency? Did you know about it?
As the time of G20 summit gets closer the countries are in discussion about, how one should implement a standard set by intergovernmental organizations for a common currency. There is a big risk from crypto assets to other currencies but this is completely manageable and nothing to worry about.
G20 is looking to be very firm and implement a common standard currency; this seems to be on top of the agenda and a practice that will come up soon. FATF is a body which is working actively worldwide to prevent and watch cases of anti-money laundering. There are also some major recommendations which can be given by FATF regarding the usage of crypto currency and these will also come up for discussion. FATF had a discussion recently with people of 36 countries and 2 internet nation organization about these issues and we can expect some near terms solution on this soon.
In the FATF meeting, one had to outline the complete standard for the crypto asset, this is serious issue and in terms of discussion has gone into it by leaders of various countries and this is expected to produce some results soon.
There are many risks which are there with the usage of digital assets like the money laundering and these need to be taken care of in the right way and some rules and standards need to be put to avoid these issues.