🚨 BREAKING: 🇮🇳 India's Finance Minister Nirmala Sitharaman just dropped a BOMBSHELL at an event in Mumbai 😳

🇮🇳 The global giants of G20 are now discussing a GLOBAL framework for #crypto regulations 🔥

A thread 🧵

1️⃣ G20 and India's Role:

👉 The G20 is an international forum of the world's major economies.

👉 Currently, India is holding the presidency, or chair, of the G20.

👉 This means they play a key role in setting the agenda for discussions among the world's major economies.

2️⃣ India's Proposal:

👉 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.

3️⃣ Why a Global Framework?

👉 Finance Minister Nirmala Sitharaman emphasized that to effectively regulate cryptocurrencies, global cooperation is necessary.

👉 #Crypto is a borderless asset, meaning one country's rules could easily be bypassed if others don't have similar regulations.

4️⃣ Nirmala Sitharaman's Statement:

👉 India's finance minister, Nirmala Sitharaman, confirmed these discussions at an event in Mumbai.

👉 She emphasized the importance of understanding and regulating #crypto assets.

5️⃣ The Need for Global Cooperation:

👉 One key point is that for effective regulation of #crypto, cooperation is needed from all countries.

👉 Cryptocurrencies operate globally, so a single country's efforts might not be sufficient.

6️⃣ Current Status:

👉 Active discussions are taking place regarding this global framework.

👉 The details and specifics are yet to be outlined, but the intention is clear: to have a unified approach to #crypto regulations.

7️⃣ Summary:

👉 In essence, India, as the current leader of the G20, is pushing for a global system to regulate and understand #crypto.

👉 They believe that collaboration between countries is crucial for effective regulation.

#crypto2023 #dyor #Binance #BTC $BTC