According to Odaily, Indian Finance Minister, Nirmala Sitharaman, emphasized the need for a global consensus on cryptocurrency regulation during an interview with Businessline on Monday. Sitharaman highlighted the importance of international cooperation, particularly within the G20, to address challenges related to cryptocurrency regulation.
Sitharaman explained that discussions on this issue have been ongoing in the finance department even before the G20 summit and since 2020. She added that the Reserve Bank of India (RBI) also has its own views on the matter. Sitharaman stressed, 'We are very clear that there should be a global consensus on how to regulate cryptocurrencies.'
Last week, the Securities and Exchange Board of India (SEBI) provided recommendations on crypto asset regulation to a government panel, advocating for different regulatory bodies to 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 emphasizing issues related to tax evasion and fiscal stability.
