A group of key national trade associations representing Virtual Asset Service Providers (VASPs) signed a Memorandum of Understanding (MOU) to establish an association to provide a global unified voice for the virtual asset industry.
As G20 member nations meet in Osaka Japan, on June 28 and 29 to place a rubber stamp on the stringent crypto rules proposed by the FATF, crypto industry participants (V20) will hold a parallel meeting to try to renegotiate the requirements.
Japan's representatives at this year's conference will submit a proposed “manual” or toolkit that it believes can help G20 member nations regulate the crypto industry in their respective jurisdictions.
TRON has stated that it does not support encourage or support any gambling DApp targeting the Japanese market. That means that the platform will not approve of Japanese developers building gambling Dapps on their blockchain.
Like Belgium and the rest of the world, Japan has had its fair share of fraudulent cryptocurrency investment schemes in recent times but will move to stop the rise of such projects by amending its laws.
At a just-concluded G20 Summit held in Buenos Aires, Argentina, the body announced as part of its written declaration that they “will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed”.