V20 summit will take place alongside the G20 Leaders Summit in Osaka

Global legislators have voiced their support for a forthcoming summit in Osaka, Japan, which will be devoted to virtual asset service providers’ (VASPs) response to a new set of recommendations set forward by the Financial Action Task Force (FATF). Cointelegraph Japan reported the news on June 19.

According to the report, the V20 summit will take place alongside the G20 Leaders Summit in Osaka on June 28 and 29, and will convene G20 representatives, national blockchain associations, VASPs and legislators from numerous jurisdictions.

Those in attendance will use the summit to explore the evolution of possible technical solutions and prospective impact of the FATF’s forthcoming proposal on how participant nations should exercise oversight for the digital assets sector.

As previously reported, the FATF is an intergovernmental organization established on the initiative of the G7 to promote the implementation of legal, regulatory and operational measures to fight money laundering.

Reference: https://cointelegraph.com/news/legislators-endorse-virtual-asset-summit-convened-in-response-to-coming-fatf-crypto-rules

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