G20 financial heads to urge crypto-asset monitoring to safeguard financial stabi

[Paul1991]

[BRUSSELS] The world's financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability.
See more: https://www.businesstimes.com.sg/banking-finance/g20-financial-heads-to-urge-crypto-asset-monitoring-to-safeguard-financial-stability

[Robert543]

"Crypto currencies, however, raise issues with respect to consumer and investor protection, tax evasion, money laundering and terrorist financing. At some point they could have financial stability implications,". I believe in bitcoin 50%.

[Paul1991]

"Crypto currencies, however, raise issues with respect to consumer and investor protection, tax evasion, money laundering and terrorist financing. At some point they could have financial stability implications,". I believe in bitcoin 50%.

do not trust anything 100%

[Piskeante]

all the money in crypto, cannot be charged with TAX, tracked or known the owner. Moreover, that money in crypto while it's there, it's not in the banks account, so they cannot play with it, they cannot lend it to others, they cannot buy debt with them.

For me it's simple asF. cryptocurrency will die because it goes against the system, and the system needs crypto to be hiper-regulated or kill it.

[Reset779]

So is this supposed to be new FUD? They're starting to monitor how much crypto people have... is that why KYC is happening on exchanges now?

[rudox]

This could further spell doom for the cryptocurrency. If G20 want to monitor cryptocurrency  for money laundry and funding of terror then there will be problem because of the decentralized nature of blockchain  which normally makes it impossible for such identification of who sent what and who received what was sent. Unless blockchain developers will update  the system to include KYC and identify blocks.

[Arngrim]

They are really going to make that money laundering thing as the reason above all even if the means for it are really different.
It is to monitor us, everyone who are crypto related. They are just using that reason. It is obvious.

This could be the end of being decentralized. Once money is related they dont want anyone getting hands on it.
The balance will be doomed. Imagine having a lot of rich people afterwards. Then those who are in control of the money will be having a lot of problems.
It is an unfair world, better live with that until you die. Swallow it earlier and you will get used to it.
They want the poor to stay poor and the fools to stay stupid.

[Dimid]

G20 will be determined with the regulation of the Crypto-Currency until July.
G20 meeting on Tuesday ended with the deadline setting for the discussion of the regulation of the Crypto-currency for July, as the participating countries came to the conclusion that at the moment there is not enough information to make decisions.

[ICO Lancer]

Interesting to see the results that will come out of it, I believe the last event caused some bull trends but the future is uncertain for now.

[ultrloa]

G-20 financial seems a little heads up for us since looks like this one could bring some good chances for the crypto holders to bounce back for this dump happen. and might this event could hype the coin on certain levels so let's try to wait and maybe not sell our coins for this days since maybe that event could bring crypto at its greenest days again.

[phelbaby]

If G20 implement all these strict regulations on Cryptocurrency it means that Cryptocurrency it is on longer a decentralized platform, this will be difficult but until July when the last ruling will take place. 

[Zendalet]

The whole point behind cryptocurrencies was to make them trustless.

"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with hardly a fraction in reserve."

- Satoshi Nakamoto

G20 financial heads are now trying to put the cat back in the bag by forcing cryptocurrencies to become trust-based.

If those G20 financial heads really cared about consumers, why are they forcing those consumers to send their identification documents to untrusted parties while at the same time warning they are likely to be cyber criminals?

[Paul1991]

[BRUSSELS] The world's financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability.
See more: https://www.businesstimes.com.sg/banking-finance/g20-financial-heads-to-urge-crypto-asset-monitoring-to-safeguard-financial-stability

Everything should be more cautious

[Robert543]

The world's financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability.   

[auliahr]

to be honest I was tired of discussing news like this, but whatever it is if they want the best thing for crypto I will always support it. we all really hope that in July G20 will produce a change for crypto in the better direction.

[cutikanzilong]

For every country in the world the arrival of bitcoin which today as one of the valuable assets for its people has advantages and disadvantages for the country. The advantage is that they can monitor and obtain digital money transaction data. Data can also be used to anticipate money laundering or other criminal acts related to finances and deficiencies: The virtual risk is the payment system, and the stability of the financial system. Therefore, I think the G20 plan can not be realized

[Rydereee12]

For every country in the world the arrival of bitcoin which today as one of the valuable assets for its people has advantages and disadvantages for the country. The advantage is that they can monitor and obtain digital money transaction data. Data can also be used to anticipate money laundering or other criminal acts related to finances and deficiencies: The virtual risk is the payment system, and the stability of the financial system. Therefore, I think the G20 plan can not be realized

However, there are many Scam projects, so they came up with the rules

[Asimmo]

Another bar talk/chat..
They are meeting with each other, discussing shitty ideas but still have no precise idea what and how to regulate..
I have an impression that they even don`t know what they want..
Dirty bureaucrats..

[dpui98]

I just hope they get the things/ rules settled so we can move on, the market is really bad with so many uncertainty now... hate to see this

[madgtr]

Now that crypto is gaining more and more ground, governments cannot sit back and watch any longer. The question is, do they want to regulate it so that they can be a part of the new digital change, or are they trying to destroy it by eliminating everything that attracted people in crypto on the first place?