ALSO READPak not placed on FATF terror watch-list: media report Pakistan likely to be put in FATF grey list Japan to punish several cryptocurrency exchanges: sources South Korea says will talk to U.S. on trade frictions at G20 meeting Some countries have proposed to put Pak in FATF 'grey list': India
By Takahiko Wada
TOKYO (Reuters) - 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.
The Paris-based Financial Action Task Force (FATF), a 37-nation group set up by the G7 industrial powers to fight illicit finance, will report to the G20 its findings on ways to keep cryptocurrencies from being used for money laundering.
Japanese policymakers fear that while there is broad consensus among the G20 nations on the need for such steps, some nations have looser regulations than others, which leaves loopholes for money laundering, the official said.
(Additional reporting and writing by Leika Kihara; Editing by Sam Holmes)