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The IMF and the U.S. Support India's Plan to Coordinate Global Crypto Regulation at G20.
#IMF #usa #g20 #Regulation
#IMF #usa #g20 #Regulation
For the first time since taking over the G-20 presidency, India has officially revealed details of the ongoing work around how to regulate crypto.
#g20 #india #cryptoregulation #crypto #cryptoonindia
#g20 #india #cryptoregulation #crypto #cryptoonindia
Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation.
#g20 #Regulation #india #BTC #crypto2023
#g20 #Regulation #india #BTC #crypto2023
Speaking to Reuters on the sidelines of the G20 meeting in Bengaluru, U.S. Treasury Secretary Janet Yellen said it was "critical" to put in place a strong regulatory framework but added that the United States had not suggested any outright bans.
#BTC #g20 #cryptoregulation
#BTC #g20 #cryptoregulation
The G20 group of the world's 20 largest economies announced that the FSB, the IMF, and the BIS are all working to establish standards for digital assets.
#g20 #cryptoregulation #BullRun #bullmarket #cryptoonindia
#g20 #cryptoregulation #BullRun #bullmarket #cryptoonindia
Speaking to Reuters on the sidelines of the G20 meeting in Bengaluru, U.S. Treasury Secretary Janet Yellen said it was "critical" to put in place a strong regulatory framework but added that the United States had not suggested any outright bans.
#g20 #g20crypto #BTC #Regulation
#g20 #g20crypto #BTC #Regulation
According to a source, the crypto guidance note by the G20 Presidency will be a summary of all the work that has been done by various countries and organisations and will be an input for the discussions on the synthesis paper that will take place before the Leaders’ Summit in September
The Indian Presidency's guidance note on crypto will serve as an input in the discussions that will take place prior to next month's G20 Leaders' Summit where India is hoping for "some kind of outcome" in this area.
These discussions will be on the synthesis paper by the International Monetary Fund (IMF) and Switzerland-based Financial Stability Board-FSB, tasked with the responsibility to synthesise the macroeconomic and regulatory perspectives of crypto-assets to help formulate policies.
#india #g20 #cryptoregulations #india #cryptoonindia
The Indian Presidency's guidance note on crypto will serve as an input in the discussions that will take place prior to next month's G20 Leaders' Summit where India is hoping for "some kind of outcome" in this area.
These discussions will be on the synthesis paper by the International Monetary Fund (IMF) and Switzerland-based Financial Stability Board-FSB, tasked with the responsibility to synthesise the macroeconomic and regulatory perspectives of crypto-assets to help formulate policies.
#india #g20 #cryptoregulations #india #cryptoonindia
India, the current president of the Group of Twenty (G20), has released its presidency note on crypto in an effort to have its suggestions included in the framing of global crypto rules.
The note assumes significance as it's the official document that voices India's recommendations before the next iteration of framing global crypto rules – a synthesis paper jointly produced by the International Monetary Fund (IMF) and Financial Stability Board (FSB).
#india #g20 #g20crypto #cryptoindia #cryptoonindia
The note assumes significance as it's the official document that voices India's recommendations before the next iteration of framing global crypto rules – a synthesis paper jointly produced by the International Monetary Fund (IMF) and Financial Stability Board (FSB).
#india #g20 #g20crypto #cryptoindia #cryptoonindia
While the work of preparation of 'synthesis paper' is underway, India has submitted a 'Presidency Note' to the G20 membership laying down important inputs for a roadmap on crypto assets, said an official release.
Union Finance Minister Nirmala Sitharaman on Tuesday said various issues surrounding cryptocurrencies were discussed at a key G20 meeting here and India's inputs will play an important role in formulating a comprehensive global policy for the new-age assets.
She made the comments while addressing the media at the Mahatma Mandir convention centre here in Gujarat after the conclusion of the 3rd meeting of G20 Finance Ministers and Central Bank Governors (FMCBGs) held under India's presidency of the intergovernmental forum.
#india #g20 #cryptoregulations #cryptoindia #cryptoonindia
Union Finance Minister Nirmala Sitharaman on Tuesday said various issues surrounding cryptocurrencies were discussed at a key G20 meeting here and India's inputs will play an important role in formulating a comprehensive global policy for the new-age assets.
She made the comments while addressing the media at the Mahatma Mandir convention centre here in Gujarat after the conclusion of the 3rd meeting of G20 Finance Ministers and Central Bank Governors (FMCBGs) held under India's presidency of the intergovernmental forum.
#india #g20 #cryptoregulations #cryptoindia #cryptoonindia
Union Finance Minister Nirmala Sitharaman has said that 'Crypto Assets' is an issue that requires immediate attention from the G20 and "our response has to ensure that we do not lose any potential benefits while protecting our economies from harm".#india #cryptoonindia #g20 #BTC
G20 Finance Chiefs Agree Global Policy Responses To Crypto Are Necessary
The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.”
Insights from G20 Finance Chiefs on the Regulation of Crypto
During a press briefing on Thursday, the Indian Finance Minister Nirmala Sitharaman shared insights about the G20's conversation on cryptocurrency regulation. This discussion took place after a meeting between G20 finance ministers and central bank governors, the International Monetary Fund (IMF), and the World Bank on the sidelines of the Annual Spring Meetings.
Co-chaired by Sitharaman and the Reserve Bank of India (RBI) governor Shaktikanta Das, the meeting addressed issues concerning the regulation of cryptocurrencies and their associated challenges. The G20 finance ministers and central bank governors discussed the oversight of cryptocurrencies and the unique obstacles that come with it.
The Indian finance minister said:
The discussion on crypto assets highlighted that it couldn’t be confined to one part of the world. Its implications can impact both emerging & developed economies. Thus, global policy responses to crypto-assets are required.
Press briefing after the second G20 finance ministers and central bank governors meeting. Source: India’s Ministry of Finance.
"I am glad to say that there is a greater acceptance among all G20 members that any action on crypto assets will have to be global," Sitharaman said, adding that "the G20, I believe, has responded fairly and promptly" to the issues posed by crypto assets.
In response to a question at the press conference, the Indian finance minister said, "The G20 and its members agree that it's not going to be possible to have an independent standalone country dealing with crypto assets and that there has to be a globally coordinated understanding on how to go about regulating crypto assets."
In reference to the IMF and the Financial Stability Board's (FSB) work on a joint "synthesis paper" on crypto, India's finance minister said:
The way in which we are seeing this pan out during our presidency is the IMF’s paper is being discussed. FSB’s paper also will be taken up, and a synthesis paper will be prepared from the IMF paper and the FSB paper both put together.
"End of the day, we will see a roadmap being prepared on how and what kind of understanding the members of the G20 have in this, and it can be taken further forward on specific actions of regulation as and when the G20 takes a call on it," Sitharaman explained. A discussion will take place in September and October.
The Indian finance minister also stated that crypto assets had the potential to trigger macroeconomic instability, saying:
Today, we are in the position to see how countries are now recognizing that it is not just a crypto asset regulatory issue, where countries will have to come together, but … There can be issues of macroeconomic stability itself.
Finally, Sitharaman stated that G20 crypto conversations were "very important," adding that all G20 finance heads agreed that crypto monitoring "must be handled globally."
#crypto2023 #Binance #g20 #dyor #crypto
source: news.bitcoin.com
Insights from G20 Finance Chiefs on the Regulation of Crypto
During a press briefing on Thursday, the Indian Finance Minister Nirmala Sitharaman shared insights about the G20's conversation on cryptocurrency regulation. This discussion took place after a meeting between G20 finance ministers and central bank governors, the International Monetary Fund (IMF), and the World Bank on the sidelines of the Annual Spring Meetings.
Co-chaired by Sitharaman and the Reserve Bank of India (RBI) governor Shaktikanta Das, the meeting addressed issues concerning the regulation of cryptocurrencies and their associated challenges. The G20 finance ministers and central bank governors discussed the oversight of cryptocurrencies and the unique obstacles that come with it.
The Indian finance minister said:
The discussion on crypto assets highlighted that it couldn’t be confined to one part of the world. Its implications can impact both emerging & developed economies. Thus, global policy responses to crypto-assets are required.
Press briefing after the second G20 finance ministers and central bank governors meeting. Source: India’s Ministry of Finance.
"I am glad to say that there is a greater acceptance among all G20 members that any action on crypto assets will have to be global," Sitharaman said, adding that "the G20, I believe, has responded fairly and promptly" to the issues posed by crypto assets.
In response to a question at the press conference, the Indian finance minister said, "The G20 and its members agree that it's not going to be possible to have an independent standalone country dealing with crypto assets and that there has to be a globally coordinated understanding on how to go about regulating crypto assets."
In reference to the IMF and the Financial Stability Board's (FSB) work on a joint "synthesis paper" on crypto, India's finance minister said:
The way in which we are seeing this pan out during our presidency is the IMF’s paper is being discussed. FSB’s paper also will be taken up, and a synthesis paper will be prepared from the IMF paper and the FSB paper both put together.
"End of the day, we will see a roadmap being prepared on how and what kind of understanding the members of the G20 have in this, and it can be taken further forward on specific actions of regulation as and when the G20 takes a call on it," Sitharaman explained. A discussion will take place in September and October.
The Indian finance minister also stated that crypto assets had the potential to trigger macroeconomic instability, saying:
Today, we are in the position to see how countries are now recognizing that it is not just a crypto asset regulatory issue, where countries will have to come together, but … There can be issues of macroeconomic stability itself.
Finally, Sitharaman stated that G20 crypto conversations were "very important," adding that all G20 finance heads agreed that crypto monitoring "must be handled globally."
#crypto2023 #Binance #g20 #dyor #crypto
source: news.bitcoin.com
Indian Prime Minister Narendra Modi emphasizes the need for a global framework to regulate crypto, advocating for a unified approach.
The Indian Prime Minister stressed the significance of embracing and harmonizing the adoption of these advancements.
Under India’s G20 presidency, the Prime Minister elevated the crypto discourse beyond concerns of financial stability.
In an exclusive interview with Business Today, Prime Minister Narendra Modi emphasized the imperative need for the establishment of a comprehensive global framework to regulate cryptocurrencies.
#india #g20 #cryptoregulation #bitcoin #cryptoonindia
The Indian Prime Minister stressed the significance of embracing and harmonizing the adoption of these advancements.
Under India’s G20 presidency, the Prime Minister elevated the crypto discourse beyond concerns of financial stability.
In an exclusive interview with Business Today, Prime Minister Narendra Modi emphasized the imperative need for the establishment of a comprehensive global framework to regulate cryptocurrencies.
#india #g20 #cryptoregulation #bitcoin #cryptoonindia
