The G20 member countries have set October as the deadline for the review of the global anti-money laundering standard (AML) through cryptocurrencies.
According to the statement, the finance ministers and central bank governors of the G20 countries organized a meeting at the weekend and repeated their position regarding the plan of vigilant monitoring of cryptocurrencies.
Member countries have also called on the Money Laundering Special Interest Group (FATF), an intergovernmental body set up to combat money laundering and terrorist financing, to explain within three months how current AML standards can be applied to cryptocurrencies.
"While crypto-assets are not at the moment a risk for global financial stability, we remain vigilant ... We maintain our March commitments related to the implementation of FATF standards and we turn to the FATF to clarify in October 2018 how their standards can be applied to crypto- assets "- provided the Member States in the document.
The G20 initially in March asked the FATF for the AML standard for the cryptocurrency. This activity was part of the wider support for global regulatory recommendations in this regard.
Last month, it was reported that FATF is planning to develop binding AML rules for global cryptocurrencies. In addition, the report published in February shows that the agency will increase its efforts to control money laundering through cryptocurrencies.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market is breaking higher through all the technical resistance and the next target for bulls is seen at the level of $8,554. The momentum remains strong, but the negative divergence between the price and momentum is still present. After the impulsive rally in wave 3, the correction in wave 4 will have to come anyway. The nearest important technical support is seen at the level of $7,890.
