At the end of the G-20 summit on Saturday in Buenos Aires, the heads of the participating countries signed a final declaration, which, in particular, noted the need to regulate cryptocurrency and create a unified tax system for digital assets.
Declaración de Líderes del # G20Argentina (inglés)
– # G20 Leaders' Declaration https://t.co/UHzrbEL9jv # G20Summit2018– G20 Argentina ?? (@ g20org) December 1, 2018
In a signed declaration, the G20 leaders agreed on the need to reform the World Trade Organization (WTO), and also confirmed their commitment to use all political means to achieve economic growth.
Separately, you should pay attention to the mention in the document of cryptocurrency and the underlying technologies. In particular, the declaration confirmed that the regulation of digital assets is necessary for building an “open and sustainable financial system” and will be carried out in accordance with the standards of the Financial Action Task Force on Money Laundering (FATF)
“We are stepping up efforts to ensure the realization of the potential benefits of technology in the financial sector while reducing risks. We will regulate cryptoactive assets in the field of combating money laundering and terrorist financing in accordance with FATF standards, and, if necessary, we will consider other proposals, ”says paragraph 25 of the document.
The declaration also speaks of the need to create a stable and time-honored international tax system, and that the G-20 countries will continue to cooperate in developing a consensus-based solution in a digitalizing economy.
The development of proposals for the creation of uniform tax rules of the G20 country will be dealt with individually and will be discussed in 2019 at the next summit in Japan. It is planned to complete work in this direction by 2020.
Earlier it was reported that standards for the regulation of cryptocurrency will be presented FATF next year. Also, the recommendations of the organization in the regulation of digital activists intend to take into account and Rosfinmonitoring.
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