THELOGICALINDIAN - Osaka Japan June 10 2024 As the Financial Action Task Force FATF prepares to cycle out a new set of rules to access advertisement requirements on cryptocurrency affairs at the G20 Leaders Summit this ages a aggregate of all-embracing industry associations accept led an action to assemble Virtual Assets Service Providers VASPs for the firstever V20 Summit to be captivated as a circumstantial accident to the G20 on June 2829 in Osaka Japan
The acme will accumulate VASPs, action makers and crypto-asset industry participants to altercate the implications of the FATF proposed requirements and accessible abstruse solutions to accomplish the adapted outcomes of the FATF while additionally attention and announcement opportunities for business.
In acknowledgment to the FATF Public Statement in February, a all-around crypto-asset actor alive accumulation brought calm by All-around Digital Finance (GDF) proposed that appliance of this claim could aftereffect in abeyant adventitious consequences, including auspicious P2P transfers via non-custodial wallets, which are decidedly harder for law administration to clue or control, ultimately abbreviation the prevalence of exchanges themselves, which are currently one of the best able forms of blockage and affiliation to law administration alive in the basic asset sector.
The V20 Summit will be hosted by the Singapore Cryptocurrency and Blockchain Industry Association (ACCESS) and the Australian Digital Commerce Association (ADCA); assisted by the Japanese Virtual Currency Exchange Association (JVCEA); and with the abutment of the British Blockchain & Frontier Technologies Association (BBFTA), the Korean Blockchain Association (KBCA), the Hong Kong Blockchain Association (HKBA), the FinTech Association of Hong Kong (FTAHK) and ACCESS Malaysia; and in cooperation with Global Digital Finance (GDF). Attendees will accommodate G20 delegates, government agencies and action makers, crypto exchanges and accompanying account providers, conspicuously assembly from the FATF as able-bodied as authoritative and bounded aldermanic representatives.
“With the G20 exploring how to aerate opportunities presented by blockchain technologies, and with businesses defective accuracy and authoritativeness about all-around authoritative frameworks, there is a bright charge for an all-embracing chat to drive accord amid government and industry to bear a accommodating acknowledgment to the adapted standards proposed by the FATF,” said ADCA President Ronald M. Tucker.
“As an industry, we animate the amenable acceptance of regulation. That said, it is acute that we arrange our choir and appoint the authorities in adjustment to acquisition the best adapted and applicable business solutions that meets the requirements of all those involved,” added ACCESS Chairman Anson Zeall.
V20 organizers additionally admit the charge to actualize added acquaintance aural the blockchain industry on the appulse of the FATF rules on how companies operate.
“GDF fosters all-around industry-led beat with action makers, including FATF, who seek accuracy from industry on challenges and proposed solutions. This requires a alliance of industry participants including civic fintech, crypto and agenda asset associates organisations accommodating with anniversary other,” said Teana Baker-Taylor, Executive Director of GDF, an industry associates anatomy developing a Code of Conduct which sets out standards and best practices for blockchain and agenda asset participants and the companies who assignment with them.
“We alarm on all our colleagues in the Virtual Asset association to accompany this effort. We are committed to allied with regulators to appear up with the best mutually benign solution,” said ADCA’s, Mr Tucker.
For added inquiries contact: Leah Callon-Butler, E: [email protected]
