The G20 finance chiefs have agreed that crypto oversight has to be 'globally handled,' said India's finance minister. cryptocurrency
The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.
“I am glad to say that there is a greater acceptance among all G20 members that any action on crypto assets will have to be global,” Sitharaman reiterated, adding that “the G20, I think, has responded fairly with alacrity” on the challenges posed by crypto assets. The way in which we are seeing this pan out during our presidency is the IMF’s paper is being discussed. FSB’s paper also will be taken up, and a synthesis paper will be prepared from the IMF paper and the FSB paper both put together.
The Indian finance chief also noted that crypto assets can potentially cause macroeconomic instability, stating:
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