Indian Finance Minister Emphasizes Global Cooperation for Crypto Regulatory Framework
Indian Finance Minister Nirmala Sitharaman stresses the importance of global consensus on cryptocurrency regulation, advocating for international cooperation within the G20.
In an interview with Businessline, she emphasizes ongoing discussions within India’s Finance Ministry, the Reserve Bank of India (RBI), the International Monetary Fund (IMF), and the Financial Stability Board (FSB) regarding crypto regulation. Sitharaman believes unilateral regulation is inadequate due to cryptocurrency’s borderless nature. She clarifies that despite differing opinions among Indian regulators, there is currently no significant confusion.
Recent recommendations by SEBI and the RBI highlight ongoing efforts to formulate a regulatory framework for cryptocurrencies in India, spurred by discussions within the G20.
Clever Robot News Desk 22nd May 2024
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