Nirmala Sitharaman, India’s Minister of Finance, who holds the term presidency, made a press statement after the meeting of the Central Bank and Economy Ministers held at the G20 Spring meetings.
Sitharaman and the country’s MB President Shaktikanta Das were the subject of the session. “cryptocurrencies” determined as. The Minister of Finance emphasized the necessity of global regulation and made the following statement:
“The talk about cryptocurrencies should not be limited to the regional scale. Developing and developed countries alike are affected by crypto. For this reason, we must establish a common policy on a global scale.”
The Indian finance minister stated that the G20 members have reached a common consensus on global crypto regulation. Sitharaman continued his words by referring to a synthesis document study of the International Monetary Fund IMF on crypto:
“The IMF and our country’s Financial Stability Board, the FSB, are conducting a research study on cryptocurrencies. At the end of the process, we will prepare a joint analysis by synthesizing the findings of the two sides.”
Nirmala Sitharaman finally touched on the risks of an unregulated crypto industry. The Finance Minister claims that cryptocurrencies can pose a macroeconomic stability problem.
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