Law.com reported that “crypto assets, which include cryptocurrencies, tokens, and ICOs, ‘raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing.’” The August 6, 2018 article entitled “G20 Countries’ Cryptocurrency Regulations Highlight Contradictory Blockchain Realities” included these comments:
At the 2018 G20 international forum, finance ministers and central bank governors from 20 of the world largest industrialized or emerging nations called for more insight on how to regulate cryptocurrencies, while still affirming their place in the global economy.
At the core of the G20’s approach to cryptocurrency is a complex truth about blockchain technology: While it can help support a more transparent and more compliant financial system, it can also significantly undermine the system as well.
I think it’s great news that the G20 is reviewing Blockchain’s impact on eCommerce.
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