Union Finance Minister Nirmala Sitharaman on Thursday said that there was a greater acceptance among Group of 20 (G20) member countries that any new regulations on the crypto assets need to be globally coordinated.
“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. “the G20, I think, has responded fairly with alacrity (on the crypto challenge),” Sitharaman told reporters at a news conference after a meeting of G20 finance ministers and central bank governors. “The G20 and its members agree that it’s not going to be possible to have an independent, standalone country dealing with the crypto assets,” the minister added.
Sitharaman told reporters that the group has willingly responded to the issue. A “synthesis paper” would be taken up on matters related to crypto assets during India’s G20 presidency.
India has maintained it wants a collective global effort to deal with problems posed by cryptocurrencies such as bitcoin, and the finance ministry back in February said it had held a seminar for G20 member states to discuss how to come up with a common framework.(ANI)
