G20 to Discuss Cryptocurrencies Next Week

Japan will urge its G20 counterparts at a meeting next week to beef up efforts to prevent cryptocurrencies from being used for money laundering, a government official with direct knowledge of the matter said.Finance ministers and central bankers of the Group of 20 major economies will meet in Buenos Aires on March 19-20, with cryptocurrencies set to be on the agenda.But the prospects for the G20 finance leaders to agree on specific global rules and mention them in a joint communique are low, given differences in each country’s approach, the official said, a view echoed by another official involved in G20 talks.”Discussions will focus on anti-money laundering steps and consumer protection, rather than how cryptocurrency trading could affect the banking system,” one of the officials said.”The general feeling among the G20 members is that applying too stringent regulations won’t be good.”

Source: G20 meeting: Japan to prevent cryptocurrencies for money laundering – CNBC

Investor Caution Lingers

GBP/USD – Pound Improves to 1.39, UK Budget Next


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.