Numerous Cryptocurrency Disclosures Arrived at G20 Summit: US Treasury Secretary Yellen Evaluates Crypto Ban!

At India’s first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s rotating presidency, the members discussed key issues, among other policy approaches. cryptocurrencywas called to discuss financial stability and regulation priorities.

When Indian Finance Minister Nirmala Sitharaman’s statements in the past period are examined, it seems that he tends to make crypto money regulations jointly with other countries. During this period when India presided over the G20, cryptocurrency regulation has become one of the main topics of discussion.

Janet Yellen Says She Doesn’t Recommend a Cryptocurrency Ban, While IMF Managing Director Asks That Ban Not Be Ignored Completely

The Indian government said that a joint technical report on the macroeconomic and regulatory aspects of crypto assets has been proposed by the IMF and the Financial Stability Board.

It was said that the proposed joint white paper is expected to facilitate global consensus on the policy approach to cryptoassets.

US Treasury Secretary Janet Yellen also made a statement at the summit.

Yellen said she does not recommend a complete ban on Bitcoin and crypto activities, but said it is critical that a strong regulatory framework be put in place.

However, at the G20 summit, IMF managing director Kristalina Georgieva also made some statements.

The IMF Managing Director said the world should have more regulation for private cryptocurrencies. Georgieva also argued that private crypto assets are not ‘money’.

The IMF director also said that crypto assets can lead to financial stability problems.

Georgieva further argued that the ban on private cryptoassets should not be shelved entirely.

*Not investment advice.