G20 Presidency Puts Global Crypto Regulatory Framework On The Table
G20 countries earlier agreed with the current G20 presidency under India that regulating crypto assets requires global cooperation. Talks on a global framework for regulating crypto assets are underway and issues related to crypto regulation are put on the table for mitigation, India’s Finance Minister confirmed at an event on Tuesday.
Global Crypto Regulation Talks Are Underway
India’s Finance Minister Nirmala Sitharaman confirmed that talks are underway on a global framework for regulating crypto, reported Reuters on September 5. It means the upcoming G20 Summit on September 9-10 will primarily include a discussion on crypto regulation. Moreover, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) will jointly submit a report at the G20 summit.
Nirmala Sitharaman at an event in Mumbai, said:
“India’s (G20) presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets.”
While progress on crypto regulation under India’s G20 presidency is still in the nascent stage, the crypto community is looking for some clarity on crypto regulation and rules. Sitharaman said key issues regulating crypto assets are put on the table for discussion. Crypto being a borderless asset requires a common regulatory framework for efficient regulation of crypto.
Meanwhile, the crypto community in India also awaits clear regulations from Indian regulators as high taxes and the government’s negative stance have almost succumbed the industry. The global framework will help bring clarity in G20 countries such as the U.S., Australia, and the UK witnessing increasing demand for crypto.
India Limiting Crypto Innovation
Crypto executives have pointed out that India’s restrictive approach towards crypto has not only limited innovation but prevented India from leveraging crypto for economic development.
However, the country continues to show adoption in Web3 and blockchain space. OKX recently revealed plans to enter India and hire local talent for Web3, tapping the potential in the country.
Also Read: Dogecoin Community Supports Elon Musk And X In Fight Against ADL
- Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin
- Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms
- Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder
- BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF
- Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?
- XRP Price Outlook After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
