As world leaders start arriving for the G20 summit in Osaka, Japan, policymakers and crypto industry representatives are convening at another summit to discuss the implications of proposed global standards for crypto assets and service providers, as well as solutions that will minimize unintended consequences of implementing these standards.
Policymakers Meet Crypto Industry
World leaders and policymakers are gearing up for the G20 summit in Osaka, Japan, which will take place on June 28 and 29. Concurrent to this event, another summit called the Virtual Asset Service Providers summit or V20 will also take place in Osaka. It is organized by international crypto industry associations with strong support from industry participants. The V20 announced:
Attendees will include G20 delegates, government agencies and policy makers, crypto exchanges and related service providers, notably representatives from the FATF as well as regulatory and regional legislative representatives.
Earlier this month, the G20 finance ministers and central bank governors met and discussed crypto asset regulations, reaffirming their support for the standards set by the Financial Action Task Force (FATF) which recently released its guidance for virtual assets and virtual asset service providers (VASPs).
At the V20 event, crypto service providers, policymakers and other stakeholders will “discuss the implications of the FATF proposed requirements and possible technical solutions to achieve the desired outcomes of the FATF while also protecting and promoting opportunities for business,” the V20 announced.
The event is hosted by the Singapore Cryptocurrency and Blockchain Industry Association and the Australian Digital Commerce Association. Other associations which will also be represented include the Fintech Association of Hong Kong, Global Digital Finance,