[ad_1]
The G20 countries have called for the taxation of cryptocurrency, as well as its regulation to combat money laundering, according to the Jiji.com newspaper on 2 December.
According to Jiji.com, the final text of a document delivered jointly by G20 leaders requires "a system of taxation for cross-border electronic payment services".
The article specifies that according to applicable laws, foreign companies that "do not have a factory or other base in Japan" can not be taxed by the local government. The publication then cites that the G20 leaders try to "build a system of taxation for cross-border electronic services".
The Member States, which met this weekend in Buenos Aires, Argentina, are reportedly working on the system and "will take the issue into consideration during 2019, when Japan will be the president of the summit". A final version of the regulations, after examining the proposals of each Member State, is expected to be operational by 2020.
As Cointelegraph reported in October, the CEO of the company behind the app for investments in cryptocurrency, Circle had requested the "standardization at G20 level" of the crypto industry.
In July, French Finance Minister Bruno Le Maire also called on the G20 to hold a public debate on cryptocurrencies at this weekend's summit.
Le Maire said the leaders "will discuss all together on the issue of Bitcoin (BTC)" since "there is obviously the risk of speculation". He concluded that France needs to "examine this with other G20 members" to see how "we can regulate Bitcoin."
[ad_2]Source link
