Issues Related To Crypto Requires Quick Attention FM

Union Finance Minister Nirmala Sitharaman has said that issues relating to crypto assets demand quick attention, and the G-20’s response must make sure that they do not lose any potential benefits while safeguarding economies from harm.

Sitharaman took part in a brainstorming session on the “Macrofinancial Implications of Crypto Assets” on Friday at the International Monetary Fund (IMF) headquarters in this city with G-20 finance ministers and governors of central banks. India presently holds the G-20 countries’ yearly rotational chairmanship.

Crypto-related issues have been a hot topic of conversation among G-20 members, and all agree that this industry has to be regulated immediately. There were international specialists on this topic present for the brainstorming session.

In her remarks, Sitharaman stated that the G-20 recognises the efforts of the Financial Stability Board (FSB) and the IMF in identifying important components of the policy and regulatory framework.

In addition, she stated that a synthesis work that incorporates macroeconomic and regulatory perspectives on crypto assets is necessary.