India wants consensus on crypto regulation among G20 members this year


India is working with the Financial Stability Board to bring consensus among G20 members on their approach and roadmap to crypto regulation.

Cover art/illustration via CryptoSlate

India is aiming to bring G20 members to a consensus on the roadmap for regulating digital assets within this year, the Economic Times of India reported on Feb. 2.

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India recently became the G20 president in December.

In an interview with the Press Trust of India, Department of Economic Affairs secretary Ajay Seth said that a paper is being drafted for a seminar to be held on Feb. 23. The aim of the seminar, which will be held on the sidelines of the G20 finance ministers and central bank chiefs, is for the G20 members to reach a consensus on the policy stance on cryptocurrencies.

The seminar is being organized after G20 members discussed an International Monetary Fund paper on crypto assets last month.

Seth said:

“We are also working with the FSB [Financial Stability Board] and the idea is that during India’s presidency at least the policy stance to crypto assets, as well as the roadmap for regulation, is broadly agreed upon among the G-20 members.”

Indian prime minister Narendra Modi, as well as finance minister Nirmala Sitharaman, have both called for global cooperation in regulating cryptocurrencies in the past.
Posted In: India, Regulation

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Author: Monika Ghosh

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