Officials have scheduled two cryptocurrency discussions on seperate days during next week’s G20 Summit in Argentina, in an effort to come up with what representatives are describing as a “common response” on crypto regulation.
The first discussion will be held on Monday and feature Argentina Treasury Minister Nicolás Dujovne and Organisation for Economic Co-operation and Development (OECD) Secretary-General José Angel Gurría, in addition to several others.
The second discussion will take place on Tuesday.
A document that outlines the G20 agenda states, “the issue is an important item on the meeting agenda; delegates will consider a common response that would mitigate the risks without discouraging innovation.”
The document notes that blockchain “has the potential to promote financial inclusion.” However, it goes on to argue that “it is important to analyze its implications to financial stability, tax evasion and financial illegal activities.”
Regulation is commonly seen as crypto’s biggest hurdle in the eyes of both users and governments — the dilemma being how can we use cryptocurrencies as they are intended to be used, continue to advance the technology, and also fight against crypto abuse and criminal activities.
Unfortunately there doesn’t seem to be a real solution, at least not yet.