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Bitcoin regulation: the G20 summit is to bring stricter guidelines

the June's upcoming G20 summit to bring stricter guidelines for dealing with Bitcoin, Altcoins, and Blockchain technology. While there is as yet no clear guid

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Bitcoin regulation: the G20 summit is to bring stricter guidelines
the June's upcoming G20 summit to bring stricter guidelines for dealing with Bitcoin, Altcoins, and Blockchain technology. While there is as yet no clear guidelines, to create the summit of international rules for dealing with crypto-currencies.

By Phillip Horch
6. April 2019TeilenFacebookTwitterLinkedInxingemail

How to regulate a technology that extends, theoretically, to the entire globe? A decentralized network, so the obvious conclusion, you have to regulate as well on a global level. Especially in the case of Bitcoin, is not backed by any Central Institution, it is also difficult to pull someone to the responsibility.

The more guidelines are required on a transnational level. While the regulatory projects of the European space in different directions, the old, the substance is expected from the upcoming summit, new policies, aimed at old problems meet in Japan.

Old problems in the focus of the G20 summit in Japan

Therefore, the upcoming G20-summit on the 28. and 29. June in Osaka, Japan, to clarify. The appropriate Meeting of the global Digital Economy is already for the 8. and 9. June scheduled. As Yahoo Japan reports, are the usual questions at the heart: the prevention of money laundering, Know-Your-Customer rules, and Anti-terrorism policies.

Tenor, in principle, be positive

Already at the last Meeting in Argentina, crypto-currencies were on the Agenda of the G20 summit. In the end the sentiment against the Blockchain was open to technology in principle. To be able to as sovereign currencies, shall apply, so however, the plug-in unit, there is no crypto-currencies to date on some of the key safety measures. Accordingly, it was said in the final Declaration:

Technological innovations, including those that crypto-currencies are based on, can bring significant benefits to the financial system and the economy in a broader sense.

Clear guidelines, the Community is expected, especially in Germany. The well-known disagreement between the instances, which showed up most recently in a ruling by the chamber court of Berlin, speaks volumes. The competent authority stated that the BaFin had exceeded its ban on Bitcoin ATM your skills significantly. So far, however, there was no new regulation of the crypto-machines.

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