According to Odaily Planet Daily, Indian Finance Minister Nirmala Sitharaman stressed in an interview with Businessline that a global consensus on cryptocurrency regulation is needed. Sitharaman stressed the importance of international cooperation, especially within the Group of Twenty (G20), to address the challenges of cryptocurrency regulation.

"We have discussed this issue in the finance ministry even before the G20 summit and since 2020," Sitharaman explained, adding that the Reserve Bank of India (RBI) also has its views on this.

Last week, the Securities and Exchange Board of India (SEBI) provided recommendations to a government panel on the regulation of crypto assets, advocating that different regulators should oversee various aspects of cryptocurrency trading. Meanwhile, the Reserve Bank of India also submitted its views on cryptocurrencies, expressing its concerns, highlighting the macroeconomic risks associated with cryptocurrencies, and highlighting issues related to tax evasion and fiscal stability.