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Cryptocurrency Regulation Might Be Discussed at Next G20 Summit

G20 Summit

To regulate cryptocurrencies or not to regulate cryptocurrencies? That is the question that will be in focus at the next G20 Summit in March.  It seems that most countries will have something to say about the regulation of it. In fact, last week UK Prime Minister Theresa May disclosed that the country is going to implicate some new cryptocurrency rules. This week, Steven Mnuchin, who is the U.S. Treasury Secretary, joined the conversation.

Why Might Regulation Be Discussed at the G20 Summit?

Earlier this week, Mnuchin spoke at the Senate Banking Committee. It was during this presentation that Mnuchin reportedly stated that even though he doesn’t believe cryptocurrencies pose a threat to the stability of the market, he is very wary about criminals using virtual currencies for criminal activity such as money laundering. For these reasons, Mnuchin plans to start a discussion regarding cryptocurrency regulation at the next G20 summit. The G20 summit allows for the globe’s 20 leading industrialized economies to come together, and the next one will be held in Argentina next month.

Interestingly, if Mnuchin ends up discussing cryptocurrency regulation next month at the summit, this actually won’t be the first time this topic has been discussed at one of the meetings. In 2015, the matter was discussed during a meeting with the G7 nations. For those who don’t know, the G7 includes the following countries: France, Italy, the United States, the United Kingdom, Canada, Germany, and Japan.

>> “Drive it out of Existence” leading economist weighs in.

The Takeaway

We still have to wait before cryptocurrency regulation is potentially discussed at the March G20 summit, However, I can almost guarantee that we will hear more about the subject throughout February. In January, both France and the UK made headlines with their cryptocurrency regulation announcements, so it seems that it’s only a matter of time before another country makes a similar announcement.

It’s not entirely surprising that the subject of cryptocurrency regulation has become as prominent as it has lately;  despite the benefits, they are that more susceptible to becoming the target of illegal activity simply because they are not regulated. Whose side are you on? Do you think the benefits of unregulated currency outweigh the negatives? Comment below.

Featured Image: Twitter

  • NewHampshire

    These are dangerous enemies who have no right to regulate anything. They are not your government, they are not anybody’s government. They can all go straight to the devil!

  • Darryl Thackwell

    MY UNDERSTANDING INITIALLY WAS THAT GOVERNMENTS AND BANKS WERE PREVENTED FROM HAVING ANY CONTROL OVER CRYPTO CURRENCIES AS IN ANY ONE COIN AT ALL ABSOLUTELY NO GOVERNMENT OF ANY COUNTRY OR ANY BANK FROM ANY COUNTRY AT ALL REGARDLESS COULD OBTAIN ANY CONTROL OR REGULATE CRYPTO CURRENCY THEY WERE EXEMPT FROM CRYPTOS FULLSTOP ABSOLUTELY AT NO POINT WOULD GOVERNMENTS OR BANKS BE GIVEN FREE ACCESS OR ENTRY OR WORSE STILL CONTROL AND REGULATION OVER CRYPTOS GET RID OF THE BASTARDS INFACT THERE IS NOTHING THEY CAN FORCE YOU TO COMPLY WITH IF YOU KEEP ALL YOUR DEALINGS OUTSIDE OF THE JURISTICTION /COUNTRY YOU LIVE IN AS SUCH KEEP ALL TRANSACTIONS IN THIN AIR ON THE BLOCKCHAIN IM SURE THAT NO IDENTIFICATION OF INDIVIDUALS PREVAILS AND STILL DOES ON THE BLOCKCHAIN JUST KEEP ALL OF YOUR TRANSACTIONS OUTSIDE OF THE COUNTRY AS SUCH IN THIN AIR JUST THE AGE OLD COMMONSENSE THEORY THAT HAS BEEN AROUND FOREVER NEVER TELL THE LEFT HAND WHAT THE RIGHT HAND IS DOING KEEP IT THAT WAY CRYPTOS SHOULD ENFORCE THEIR RULING THAT WAS FROM SQUARE ONE NO BANKS AND NO GOVERNMENT ACCESSS FROM ANYWHERE AROUND THE GLOBE FINISH NOTHING FUCK OFF YOU BASTARDS YOUR NOT WANTED THIS IS FOR PRIVATE INDIVIDUALS ONLY IF YOU DO NOT MEET THOSE OBLIGATIONS THEN PLEASE FUCK OFF ASAP

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