G20 closing “Libra” and other crypto assets Recognizing the need to regulate regulations 19 October 6:47

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The G20, the finance ministers of the 20 major countries, and the Central Bank Governors' Meeting in Washington ended with a two-day discussion. It was agreed that the cryptocurrency assets such as “Libra” that Facebook plans to issue should not be issued until the regulation is in place because there is a risk of misuse for crime and the risk of leaking personal information.

The G20 Finance Ministers and Central Bank Governors discussed the cryptocurrency assets used across borders, such as “Libra,” which Facebook is planning to issue next year at the discussion on the second day.

Each country acknowledged that it would bring serious benefits in terms of technology, such as easy remittance, but that it would create serious risks in each country's currency system and monetary policy.

On top of that, they agreed that they would be misused for money laundering by criminal organizations, and that measures and regulations to prevent the leakage of personal information of users were necessary, and that services should not be started until they are ready.

Facebook Libra was also an agenda at the G7, the seven major finance ministers, and the Central Bank Governors' Meeting, as it could replace the currency issued by the country or region if issued.

This is the first time the G20 will be discussed, but it is a form of strong concern from emerging countries.

Regulations on crypto assets such as Libra will continue to be considered by the board of directors organized by financial authorities in each country, and the final report will be compiled next year.

Finance Minister Aso "Technical talk and credit are separate"

Vice Prime Minister and Minister of Finance Aso, who served as chairman of the conference, talked about the encryption assets such as Libra at the conference after the meeting, “The technical story that can be convenient and the story that it can be trusted are different. ”No one agrees as long as the victims come out or are misused for money laundering.”

In addition, the BOJ President Kuroda said, “It is true that emerging countries and developing countries are concerned that if they are used globally under a huge customer base, they will be replaced by currencies. It is not allowed to be issued inside. "