Could 2023 Be the Year to Regulate Cryptocurrencies for Countries?

Indian Finance Minister Nirmala Sitharaman cryptocurrencies He continues to talk about The minister, who recently gave an interview on a local television channel, argued that all countries should make a joint effort for crypto regulation.

Speaking in an economics-finance publication, Sitharaman emphasized that the central bank has the mandate to produce a digital asset.

The Asian giant will host the treasury and central bank governors of member countries at a G-20 summit scheduled for the end of February. Sitharaman signaled that he will meet with his colleagues for an international crypto regulation at this meeting.

“Global cooperation is essential for cryptocurrency regulation to be effective. I think it won’t work if the states implement it on their own. Because what you call technology does not know the borders of the country.”

States Take Steps On Crypto

If we consider the relationship between states and crypto money in 2023, it seems to be an active year. Although such statements were made for 2022 and these were unfounded, it is stated that 2023 is more likely for regulations.

In this context, important developments have emerged in many countries in recent days:

  • France MB Chairman Villeroy de Galhau announced that they do not want to wait for the EU for crypto regulation.
  • Brazil And Argentinastarted working on a joint digital currency to reduce their dependence on the US dollar.
  • Chinese Huang Yiping, former director of the People’s Bank, stressed that the crypto ban in the country is not sustainable.

The fact that India will raise this issue again at the G20 shows that cryptocurrencies are also discussed in every meeting about the economy and even become one of the main items.

Considering these developments and the unfortunate events in cryptocurrencies (such as the bankruptcy of FTX), it is highly likely that some regulations regarding cryptocurrencies will come in 2023. According to current signals, states are taking a “regulatory and protective” attitude rather than a prohibitive one.

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