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Japan It is set to make another attempt to convince the G7 and G20 leaders to adopt streamlined crypto regulations.
Per kyodo news, the Japanese government is set to take advantage of the fact that it will be hosting the G7 summit in Hiroshima this May. Host countries are allowed to add items to the agenda of the summit.
It also intends to raise the matter at the G7 meeting of finance ministers and central bank chiefs to be held in Niigata in mid-May. Top financiers will end their meetings just before the general meeting.
And Tokyo also hopes to raise the matter with the G20 – when finance ministers and central bank chiefs meet in Washington next month.
Citing “officials” from the Japanese government who “spoke on condition of anonymity,” the media outlet reported that “cryptocurrency-related issues” were “likely on the agenda” at the G20 meeting.
The media outlet reported that Tokyo is hopeful of convincing fellow G7 and G20 members to write a “joint declaration” that will help “secure” crypto users.
Japan to push G7, G20 for crypto regulation – again
The Japanese government appears to be hopeful that the zeitgeist among political and financial leaders is on its side. And it seems to expect high-profile collapse ftx The exchange will help in this matter.
Japan’s crypto industry is one of the most tightly regulated in the world. The nation’s crypto exchanges are subject to a strict set of regulations. These include rules governing the segregation of client-owned assets and exchange funds, as well as tighter restrictions on unlicensed foreign exchanges.
some industry insiders – as well prominent politician – complained that this policy has caused many Japanese firms to relocate overseas.
But Tokyo appears unfazed. In the last G20 summit held in Japan, the government A crypto regulation “manual,” distributed Urging international leaders to adopt equally strict regulatory policies.
In the manual, Tokyo cited examples of its own watershed crypto “incidents” — the 2014 Mt. Gox hack and Coincheck Hack of 2018, It claimed that these incidents prompted Japan to implement its own crypto regulations, and suggested that other countries should follow suit.
