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Sunday, May 19, 2024
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G20 Summit Unifies on Cryptocurrency Regulation

India’s G20 presidency has fostered a worldwide consensus on cryptocurrency regulation, according to Finance Minister Nirmala Sitharaman. She stated, “A global consensus on regulating cryptos is emerging under India’s presidency.

” The G20’s agenda now encompasses financial inclusion and leveraging digital public infrastructure to enhance productivity. Sitharaman further explained, “We have embedded in the G20 agenda financial inclusion and productivity gains through digital public infrastructure.”

During the G20 Summit in Delhi over the weekend, global topics, including a regulatory framework for cryptocurrencies, will be addressed. India has prepared a presidential note on cryptocurrencies, providing clarity on their integration into a nation’s digital financial system.

India has long advocated for the creation of a global framework for decentralized financial products to combat their potential misuse for terrorism financing and money laundering.

Sitharaman also mentioned ongoing discussions and the consideration of content-rich papers from institutions like the IMF, FSB, and OECD on various cryptocurrency-related issues.

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