Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- During the G20 meeting, Sitharaman conducted a press briefing.
- This follows PM Narendra Modi’s recent call for a global crypto regulatory framework.
Nirmala Sitharaman, India’s Finance Minister, announced on September 9 that a global framework for regulating crypto assets will be developed under the nation’s G20 presidency, with backing from the IMF and the FSB. She stated that the G20 would determine whether to regulate or completely ban crypto assets.
The Finance Minister remarked:
“I don’t want to engage in the discussion right now about whether crypto will be regulated or prohibited. The G20 will make that decision.”
Relying on the Synthesis Paper
Related Posts
On the sidelines of the G20 meeting, Sitharaman held a press conference alongside Foreign Minister S. Jaishankar and G20 Sherpa Amitabh Kant. It was also acknowledged in the G20 discussion document that the BIS Innovation Hub (BISIH) Report on Lessons Learned regarding CBDCs is valued.
Sitharaman further stated:
“G20 nations have reached an agreement to collaboratively enhance the financing capacity of the world bank. The G20 welcomed the IMF-FSB (Financial Stability Board) crypto synthesis paper, which includes the roadmap that will facilitate a coordinated and comprehensive policy and regulatory framework.”
She noted that the International Monetary Fund has focused more on the macroeconomic impacts of crypto assets, while the Financial Stability Board has emphasized crypto regulations. This follows Prime Minister Narendra Modi’s recent call for a global framework to regulate cryptocurrencies during his address at the B20 Summit India 2023.
Highlighted Crypto News Today:
Stellar (XLM) Shines With 18% Gains Amidst Market Uncertainty
