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The G20 intends to regulate Cryptocurrency

The G20 finance ministers and heads of central banks are concerned about the risks to global financial stability that can create cryptocurrencies, and intend to propose possible measures for the international regulation of their market.
Technological innovations that underlie the work of cryptocurrencies can enhance the efficiency of the financial system. This is stated in the draft final statement, which is expected to be adopted on March 19-20 at the G20 meeting in Argentina.
“However, the cryptocurrencies create problems related to the protection of consumers and investors, tax evasion, money laundering and the financing of terrorism,” the document says. International bodies are recommended to strengthen supervision over cryptocurrency assets, as well as to study the need for possible joint actions.
In addition to the problem of cryptocurrency, the G20 will discuss the fight against unfair trade and will pay attention to the rules of global trade.
Cryptocurrency is a kind of digital currency, the creation and control of the turnover of which is based on cryptographic methods. In particular, the concept implies work on the basis of blocking technology (a sequential chain of blocks containing information) – a decentralized database that is not associated with one common server.
As noted by the famous American economist Nouriel Roubini, in reality, blockade is one of the most unjustifiably advertised technologies in the history of mankind.
According to him, in the end, the use of blocking equipment will be limited to specific, well-defined and complex tasks that require transparency and protection from hacking more than speed.

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