BUENOS AIRES – During the recent G20 conference, the call for the taxation of cryptocurrency was brought to attention due to fears of money laundering, according to a report from Japanese news outlet Jiji.com.
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The referendum proposed by G20 leaders is mandating “a taxation system for cross-border electronic payment services.”
G20 members are drafting the system now and “will consider the issue during 2019 when Japan will be the president of the summit.”
The final proposal is expected to be set into motion by 2020.
In October, investment app Circle CEO Jeremy Allaire said he would like to see “normalization at the G20 level” regarding cryptocurrency.
France’s finance minister Bruno Le Maire publicly addressed his support in working with the G20 states to find a solution in July.
He stated leaders will “have a discussion altogether on the question of Bitcoin (BTC)” because “there is evidently risk of speculation.”
He continued his argument by concluding that France should “examine this with other G20 members.”