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G-7 seeks anti-money laundering rules for peer-to-peer crypto deals

Finance ministers want loopholes closed as suspicious payments rise

Cryptocurrency sent from illicit wallets jumped 68% last year to $23.8 billion, according to Chainalysis.   © Reuters

TOKYO -- The Group of Seven countries will urge an international finance watchdog to consider tightening oversight of cryptocurrency transactions between individuals, in a bid to close loopholes for money laundering and sanctions evasion, Nikkei has learned.

In their three-day meeting in Japan beginning Thursday, G-7 finance ministers and central bankers will call for the Financial Action Task Force (FATF) to explore the issue and consider possible countermeasures.

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