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IPFS News Link • Japan

Japan to Provide G20 With Solution for Crypto Regulation


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.

Crypto Regulatory Manual

Japan is often known as one of the most crypto-advanced countries, having legalized cryptocurrency as a means of payment in April 2017. According to local news outlet Sankeibiz, Japanese regulators will create a handbook "that each [G20] country can use for regulations, such as measures to prevent the outflow of virtual currency." This matter will be discussed at the G20 summit in June.

Japan to Provide G20 With Solution for Crypto Regulation

"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."

A wide range of regulatory measures are being adopted by the G20 countries, as previously reported, with some currently over-regulating crypto assets. The publication conveyed: