Main subject of the upcoming G20 summit will be cryptocurrencies

The upcoming G20 summit in Osaka, Japan, which will take place from 28 to 29 June, chose the theme of cryptos as the main point of the program. Prime Minister Shinzō Abe's government mainly wants to address recent changes to the Financial Instruments and Stock Exchanges Act.  Particular attention will be paid to safety.

 

Following Coincheck's hack where the $ 532 million was hacked during the last year's attack, lawmakers and lawmakers are focusing on the restrictions on cryptocurrency trading exchanges. 

After the hack already mentioned, when the attackers were able to steal NEM hot wallet tokens that were connected to the Internet, the Japanese financial services agency introduced new regulations. They require customers to manage their own cryptocurrencies assets through a cold wallet that does not have Internet access. 

 

No more virtual currencies, now it will be cryptographic assets 

In addition, the law prohibits any advertising that promotes speculative trading and price manipulation. At a press conference on new restrictions and amendments, Deputy Prime Minister and Minister of Finance Tarō As announced that Japan will no longer mark this class of digital assets as "virtual currencies" in order to avoid confusion with national currencies, such as the US. yen or dollar. 

"In the light of new international trends, the often used" virtual currency "term will be replaced only by the combined" cryptographic assets ". 

 

It should be added that Japan is the first G20 summit to host world leaders from Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico. Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and also the United States of America. 

 

Conclusion 

This is not the first time, and certainly not the last time, that the question of cryptos is taken up by politics and often the equation of regulation and another bull run.