1 United Voice
The V20 in Osaka, Japan was a two-day industry summit for the worlds leading Virtual Asset Service Providers (VASPs), held in parallel to the G20 Leaders Summit. It brought together leading digital asset exchanges, key domestic industry representative bodies and dignitaries including Mr Tom Neylan from the FATF. Get the full report.
THE V20, Virtual Asset Service Providers summit
Upon bringing together the leading VASPs in Osaka for the V20, we recognised a need for an international dialogue to drive collaboration between government and industry (and other such-key stakeholders moving forward) to deliver a coordinated response to the updated standards proposed by the Financial Action Task Force (FATF).
The outcome of the V20 was the signing of a memorandum of understanding (MoU) which signified a willingness for a unified approach in developing a solution that will be both workable for business and acceptable for regulators. The signatories of that MoU will drive forward IDAXA as the vehicle for the industry to engage with FATF.
The initial associations that signed the proposed agreement consists of the Singapore Cryptocurrency and Blockchain Industry Association, Australian Digital Commerce Association (ADCA), the Taiwan Parliamentary Coalition for Blockchain & Industry Self-Regulatory Organization, Hong Kong Blockchain Association, and Japan Blockchain Association, Korean Blockchain Association with several other jurisdiction continuing discussions post event.
From Left to Right: Jason Hsu (Taiwan), Hajin Juhn (Korea), Ronald M Tucker (Australia), Tony Tong (Hong Kong) and Yuzo Kano (Japan)
- 31 July, 2019 Bitcoin News – V20 Summit Concludes With Promises for Crypto Industry
- 29 June, 2019 Coinfomania – MoU Signed to Foster Crypto Industry Collaboration at V20 Summit
- 29 June, 2019 Yahoo Finance – Huobi Says: The Crypto Industry Should Embrace Industry Standards & Compliance At V20
- 26 June, 2019 Bitcoin News – New FATF Rules See VASP Industry Convene for V20 Summit
- 19 June, 2019 CoinDesk – Regulators Debate Cryptocurrency Legislation Ahead of G20 Summit
- 19 June 2019 Forkast.News – Will Osaka Be Crypto’s Bretton Woods Moment?
- 19 June, 2019 CoinTelegraph –Legislators Endorse Virtual Asset Summit Convened in Response to Coming FATF Crypto Rules
- 18 June, 2019 Bitcoin News – Legislators Support V20 Summit in Response to New FATF Rules
- 12 June, 2019 CoinTelegraph – FATF to Release New Rules for Global Crypto Sector, Impacting Exchanges, Funds, Custodians
- 11 June, 2019 Bloomberg – Crypto Exchanges Are Facing Their Biggest Regulatory Hurdle Yet
- 29 May, 2019 Forbes – Stronger AML Enforcement Might Actually Save Crypto
- May 23, 2019 CoinTelegraph – Japan to Check Money Laundering Policies of Crypto Exchanges Ahead of FATF Inspection
- May 20, 2019 Coindesk – Beyond KYC: Regulators Set to Adopt Tough New Rules for Crypto Exchanges
- May 17, 2019 Finder – Brace for impact: Cryptocurrency industry faces heavy regulatory blow
- April 12, 2019 Coindesk – ‘Oneous’ FATF Recommendations Harmful for Crypto Transparency: Chainalysis
- October 19, 2018 Coindesk – Global AML Watchdog to Release Crypto Regulations By Next June
- June 12, 2018 Coindesk – Money-Laundering Task Force Wants Binding Rules for Crypto Exchanges
- March 28, 2018 Coindesk – A G20 Crypto Policy? Let’s Hope It’s a Pipe Dream
The v20 representatives
Many individuals and organisations are coming together to ensure that the V20 is a success and that we proactively collaborate to help shape future FATF actions.
how you can help
V20 riyadh, 2020
Following on from the success of the V20 in Osaka, Japan, plans are already in place for the V20 in 2020. Whilst IDAXA has been born of the V20 and will continue its work with VASPs, the FATF and regulators, the V20 will be the yearly summit to bring everyone together in one room.
The 2020 G20 Riyadh summit will be the fifteenth meeting of Group of Twenty (G20) and will be held on 21–22 November 2020 in the city of Riyadh, the capital of Saudi Arabia. As this is the formal convening of world leaders to discuss policy, it is expected that the V20 will be held alongside the Leaders Summit as it was in Osaka, Japan.
Register your interest early to be involved in the V20 in Saudi Arabia.
Stay up to date on the progress of the V20 and any news relating to the regulation of digital assets globally.
We rely on support from the industry to continue to bring everyone together, the FATF, legislators and industry leaders. Please feel free to show your support direct to the addresses below.
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