According to Indian Finance Minister Nirmala Sitharaman, it is important to address concerns surrounding crypto assets immediately, and the response from the G20 should aim to safeguard potential benefits while mitigating any potential harm to economies.
Sitharaman spoke in a collaborative discussion on the “Macrofinancial Implications of Crypto Assets” alongside G20 finance ministers and central bank governors at the headquarters of the International Monetary Fund (IMF).
The Indian FM minister expressed appreciation for the efforts of the IMF and the FSB in highlighting essential elements of policy and regulatory frameworks pertaining to crypto assets.
Sitharaman emphasized the importance of a coordinated global policy response that takes into account the diverse risks associated with crypto assets, including those that are unique to emerging markets and developing economies.
The Finance Minister of India claimed that the paper on crypto asset regulation by the FSB will be presented for discussion at the upcoming meeting of finance ministers and central bank governors in July.
Additionally, Sitharaman mentioned that the synthesis paper by the International Monetary Fund-Financial Stability Board (IMF-FSB) will be submitted in September.
While speaking at a news conference after the second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, Indian FM said the G20 Members call for global crypto regulations, noting discussions would be held in September and Octobe
