Japanese Prime Minister Fumio Kishida will host this year's G-7 summit with members to state their joint intentions for tougher crypto policies in a leaders' declaration.

Their aim is to create a unified and tougher stance on crypto policies, which will be announced in a joint declaration by leaders at this year's summit.

Japan's Prime Minister, Fumio Kishida, will host the event where discussions will revolve around ways to curb illicit activities like money laundering and fraud in the cryptocurrency space.

As the world becomes more digitalized, there is a growing desire among tax authorities for international regulations to safeguard against the misuse of digital assets.

The G-7's call for tougher crypto policies will likely have far-reaching effects on the global cryptocurrency landscape.