Sitharaman, India’s Finance Minister, said that crypto regulation will be a working priority for the G20 presidency. Sitharaman emphasized that cryptocurrencies should be encouraged to understand how to regulate their holdings.
Indian Finance Minister Nirmala Sitharaman said framing crypto assets will be one of eight priorities still being worked on for the country’s one-year G20 Presidency, which begins next month during a speech at a think tank’s event on Tuesday.
Regulating Cryptocurrencies Working Priority at G20
Sitharaman previously mentioned that crypto will be on the agenda of the G20 Presidency. However, he stated for the first time that this would be one of his definite priorities. He was giving the keynote address at an annual event at the G20 Conference organized by the Indian Research Council for International Economic Relations (ICRIER).
Sitharaman said that we should encourage the IMF (International Monetary Fund), FSB (Financial Stability Board), OECD (Organization for Economic Cooperation and Development) and other institutions to understand how crypto assets can be regulated in all countries.
On the subject, Sitharaman said:
“No country can succeed alone, being in a silo, trying to regulate crypto assets”
In addition, he said, India has no plans yet, referring to crypto-specific legislation, and we need to have all members of the G20 first to see how it can be done best.
