đš BREAKING: đźđł India's Finance Minister Nirmala Sitharaman just dropped a BOMBSHELL at an event in Mumbai đł
đźđł The global giants of G20 are now discussing a GLOBAL framework for #crypto regulations đ„
A thread đ§”
1ïžâŁ G20 and India's Role:
đ The G20 is an international forum of the world's major economies.
đ Currently, India is holding the presidency, or chair, of the G20.
đ This means they play a key role in setting the agenda for discussions among the world's major economies.
2ïžâŁ India's Proposal:
đ India, under its G20 presidency, is proposing that there should be a global framework to deal with issues related to cryptocurrencies and other #crypto assets.
3ïžâŁ Why a Global Framework?
đ Finance Minister Nirmala Sitharaman emphasized that to effectively regulate cryptocurrencies, global cooperation is necessary.
đ #Crypto is a borderless asset, meaning one country's rules could easily be bypassed if others don't have similar regulations.
4ïžâŁ Nirmala Sitharaman's Statement:
đ India's finance minister, Nirmala Sitharaman, confirmed these discussions at an event in Mumbai.
đ She emphasized the importance of understanding and regulating #crypto assets.
5ïžâŁ The Need for Global Cooperation:
đ One key point is that for effective regulation of #crypto, cooperation is needed from all countries.
đ Cryptocurrencies operate globally, so a single country's efforts might not be sufficient.
6ïžâŁ Current Status:
đ Active discussions are taking place regarding this global framework.
đ The details and specifics are yet to be outlined, but the intention is clear: to have a unified approach to #crypto regulations.
7ïžâŁ Summary:
đ In essence, India, as the current leader of the G20, is pushing for a global system to regulate and understand #crypto.
đ They believe that collaboration between countries is crucial for effective regulation.
#crypto2023 #dyor #Binance #BTC $BTC