India holds the G-20 presidency this year and crypto regulation is likely to be among the topics of discussion. Read more at straitstimes.com.
NEW DELHI - India is discussing with Group of 20 members ways to develop a standardised global framework for regulating cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday.
If technology-driven assets such as cryptocurrencies are to be regulated, “one country alone cannot do anything,” Mr Sitharaman told a media conference after a customary post-budget meeting with the Reserve Bank of India board in New Delhi. “That’s why we are discussing with every country whether we could frame a standard operating procedure that we all can adopt and create a regulatory framework,” she said.and crypto regulation and climate change are likely to be among the many topics of discussion.
Mr Sitharaman’s comments echo that of the International Monetary Fund , which has stressed developing global standards for regulating cryptocurrencies. “Eventually, we need robust, comprehensive, globally consistent crypto regulation and supervision,” wrote IMF’s Mr Bo Li and Mr Nobuyasu Sugimoto in a blog last month.virtually choking the activity. Offsetting losses in one crypto asset with gains from another has also been disallowed. BLOOMBERG
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