G20 countries have called for a taxation system for crypto-currency and its anti-money laundering regulation, Jiji.com reported on December 2.
According to Jiji.com, the final text of the document jointly provided by the G20 leaders calls for a "tax system for cross-border electronic payment services".
The article further states that according to existing laws, local governments can not tax foreign companies that "do not have a factory or other base in Japan". The publication then notes that the G20 leaders are trying to "build a tax system for cross-border e-services".
Member states that met this weekend in Buenos Aires, Argentina, reportedly work on the system and "will consider the issue in 2019, when Japan is the chairman of the summit". The final version of the regulations, once the proposals of each member state are reviewed, is expected to be established in 2020.
As Coointegar announced in October, the company's CEO behind the crypto-investment circle investment Round called for the "normalization of the G20 level" of the crypto industry.
In July, French Finance Minister Bruno Le Maire also urged the G20 to hold a public debate on the encryptions at the summit this weekend.
Le Maire said the leaders "will discuss together the issue of Bitcoin (BTC)" because "there is obviously a risk of speculation." He then concluded that France should "examine this with other G20 members" to see how "they can regulate Bitcoin".