Cryptocurrency Statements Released After G20 Summit: Date Given!

After the G20 summit that took place today, India led the summit. cryptocurrencies A statement has also been published.

India Releases Cryptocurrency Statement After G20 Summit

In the statement released by India, it first made a statement on the global regulation of stablecoins. India said it will finalize the FSB’s high-level recommendations on regulation, supervision and oversight of global stablecoins.

India has made high-level recommendations on regulation, supervision and oversight of crypto-asset markets and activities until July 2023.

In the statements made, the central bank digital currencies (CBDC) were also mentioned. India said it will continue to explore the macro-financial implications of the potential introduction and widespread adoption of central bank digital currencies.

In its statement, India reiterated its commitment to maintaining a strong and effective global financial safety net, with a strong, quota-based and adequately resourced IMF at its core.

Das, Governor of the Reserve Bank of India, said that the major risks associated with cryptoassets are now widely accepted.

At the same summit, US Treasury Secretary Yellen also made some statements. Speaking to Reuters on the sidelines of the G20 meeting in Bengaluru, US Treasury Secretary Janet Yellen said that establishing a strong regulatory framework for cryptocurrencies is “critical”, but added that the US does not propose any bans.

“We did not recommend a direct ban on crypto activities, but establishing a strong regulatory framework is critical,” Yellen said. “We are working with other governments,” he added.

Earlier, IMF Managing Director Kristalina Georgieva told reporters after co-chairing a meeting with Indian Finance Minister Nirmala Sitharaman that banning crypto should be an option.

*Not investment advice.