G20 FOCUSED ON AML CRYPTO POLICY: The G20, an international forum for the governments and central banks of some of the world’s largest economies, will likely review global anti-money laundering (AML) standards related to cryptocurrencies in October, according to CoinDesk. The news follows a weekend meeting in which officials from G20 countries “reiterated their position on a plan for ‘vigilant monitoring’ on cryptocurrencies,” and also comes after news last week in which the Financial Stability Board (FSB), which regulates the G20, and the Committee on Payments and Market Infrastructure (CPMI) developed a framework discussing how crypto-related risks might impact other parts of finance. Cryptocurrency’s reputation for illicit use hasn’t gone away even as it’s mainstreamed, which has likely contributed to concern, though the agency doesn’t see cryptos as a “global financial stability risk.” That said, the G20 does not force members to adopt its recommendations, and so any policy standards that it issues could be guidelines for more stringent monitoring or increased regulation, but wouldn’t necessarily create a rapid sea change in government attitudes toward cryptos.


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