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Japan to lead development of SWIFT network for cryptocurrency
- Friday | 19th July, 2019
TOKYO (Reuters) – Japan’s government is leading a global push to set up an international network for cryptocurrency payments, similar to the SWIFT network used by banks, in an effort to fight money laundering, a person familiar with the plan said on Thursday. It remains unclear how the cryptocurrency network would work. SWIFT is the international payments messaging system used by banks to send money around the world. Japan became the first country in the world to regulate cryptocurrency exchanges at a national level, in 2017. It remains unclear whether the network would meet resistance from users, given that the attraction of cryptocurrencies is, in part, in their unregulated nature.
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