The Impact of Private Organization Summit on the Cryptocurrency Industry is Minimal

The V20 cryptocurrency meeting, which was held simultaneously with G20 summit schedule, closed on June 29th. Unlike what is known as a group hosted by government agencies in the cryptocurrency industry, it is reported that the impact of the cryptocurrency industry as a private-led group will be minimal.

With the lead of Roger Wilkins, the FATF's former chairman, the five-nations will participate: Asian Blockchain Autonomous Association; ADA (ADA), Singapore's Virtual Currency Blockchain Industry Association (ACCESS), Japan Blockchain Association (JBA), Hong Kong Blockchain Association (HBA), and Taiwan's Association of Independent Blockchain Associations (HBA).

Ronald M. Tucker of ADCA and an organizer of this summit stated, "our meeting for the development of the virtual currency industry is important." He further expressed his willingness to establish a new organization to spread the value of cryptocurrency around the world in line with the guidelines of government authorities of FATF. However, with the level of regulations on cryptocurrencies in each country lacking, many doubt whether private organizations can have any impact.

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