world’s largest economies (G20) reportedly exploring the idea of mass-regulating cryptocurrencies.
As Reuters reports, the G20, whose members account for around 90% of the world’s gross domestic product and 80% of international trade, is exploring whether it can create a regulatory framework for cryptoassets.
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India, which currently holds the presidency of the G20, cryptocurrency has already submitted a bill to regulate its market.
Koinfinans.com As we reported, Indian Finance Minister Nirmala Sitharaman stated that member countries should discuss whether crypto regulation is necessary considering the complex technologies associated with the emerging asset class.
“We negotiate with all countries, if it requires regulation, then no single country can do anything…
We are trying to establish a set of operating procedures that are followed by all members to establish a regulatory framework.”
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Sitharaman said late last year that cryptocurrency regulation would be a major topic of discussion under India’s G20 presidency.
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“No country can succeed by trying to regulate crypto assets alone. We need the G20 members to come together to see what needs to be done in the best way.”