The rally of cryptocurrencies after the disappearance of the danger of market regulation by G20 countries may be an attempt at wishful thinking.

Just because G20 countries have declared that digital currencies do not pose a threat to the global financial system does not mean that they do not pose a threat to investors. Nor does it mean that digital currencies are not a problem in the framework of anti-money laundering and counter-terrorist financing.

All of these are major concerns for some influential members of the G20 and the International Monetary Fund.

The US has made it clear that existing securities laws apply to token offerings and cryptocurrency exchanges and regulators will pursue obvious violations.

The UK and the European Union are equally concerned about investor protection.

Japan is not going to stop monitoring cryptocurrency exchanges and suspend them if violations are found.

Major countries and regulators want to stop the use of digital currencies in money laundering and terrorist financing. Regulation, whether by introducing new rules or enforcing existing ones, is inevitable.