The roadmap for regulating cryptocurrency assets and reforming multilateral development banks (MDBs) will be unveiled at the G20 finance minister and central bank governors (FMCBG) meeting later this week in Marrakesh.
Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, will be present at the World Bank Group (WBG) and the International Monetary Fund (IMF) annual meetings. Finance ministers and central bankers from all around the world will attend the annual meeting. FM will also attend G20 meetings and Investor/ Bilateral meetings. The meetings are scheduled for October 11-15, 2023, in Marrakech, Morocco.
Finance Minister Smt. Sitharaman and Governor of the Reserve Bank of India (RBI), Shri Shaktikanta Das, will co-chair the fourth G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
The fourth G20 FMCBG meeting on October 12–13 will feature two sessions: ‘Strengthening Multilateral Development Banks (MDBs) to address shared challenges of the 21st Century’ and ‘Global Economy and Crypto Assets Agenda.’
The Financial Stability Board (FSB) made recommendations in September that the G20 leaders meeting in New Delhi should adopt to control, monitor, and oversee crypto-asset activities and incorporate digital assets into the financial systems.
The IMF and FSB’s joint synthesis paper, published on September 7th, notes that while a total ban on crypto assets may be difficult to implement, their increased adoption may interfere with monetary policy transmission.