Cryptocurrency regulations seem to be gaining traction across the globe with the latest to call for regulation being the G20 finance ministers and central bank governors. The ministers and governors have asked the Financial Stability Board and the global standards-setting organizations to collaborate in the monitoring of cryptocurrency risks.

Call For More Cryptocurrency Regulations

In a note, G20 finance ministers indicated that they are welcoming the directory of FSB of cryptocurrency regulation. The statement indicated that although cryptocurrency does not pose a risk to the financial stability of the world at the moment, its regulation is necessary to avert risks related to consumers, to counter financial terrorism, as well as to anti-money laundering. The finance ministers asked the FSB and the standard-setting bodies to increase monitoring of risks as well as consider working on multilateral responses.

Vancouver mayor, Kennedy Stewart, on Friday last week suggested that Bitcoin (available on Coinbase) ATMs should be banned because of risks associated with money laundering. The move comes days after eight individuals were apprehended in Spain on money laundering charges while trying to change fiat currency into cryptocurrency.

Growing Concerns Regarding Bitcoin (available on Coinbase) ATMs

On the issue of ATMs, there was an incident in London’s Bond Street station where an ATM began spitting money. The incident occurred when a customer was withdrawing money, and the Bitcoin (available on Coinbase) ATM began tossing out money.