Indian Finance Minister Nirmala Sitharaman held a bilateral meeting with US Treasury Secretary Janet Yellen, focusing on issues relating to crypto assets, global debt vulnerabilities, and strengthening multilateral development.
The crucial talks were held on the sidelines of the first meeting of the G20 finance ministers and central bank governors (FMCBG) under India’s year-long presidency. The two leaders also discussed their perspectives on multilateral development banks and the Just Energy Transition Partnership, as per New Delhi’s finance ministry.
The tweet highlighted crypto assets among other things, indicating we can expect some crypto reforms in the coming months. The abrupt collapses in the crypto industry have already sent chills through regulatory authorities, making them skeptical of cryptocurrencies’ future.
Though government surveillance of cryptocurrency contradicts all concepts of decentralization, no one is to blame, as many scams and security concerns have surfaced in the past few months. Since crypto is among India’s G20 priorities, the country is including crypto assets as part of FMCBG meetings’ discussions.
Sitharaman has also met with Spain’s Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calvino, to discuss crypto assets, MDB reforms, and LMICs’ debt vulnerability ahead of the 1st G20 meeting.