The upcoming G20 summit will include a discussion on crypto regulation, according to India’s Finance Minister Nirmala Sitharaman. Crypto assets are transnational and require global regulation, she said. The event will also feature a crypto regulatory study from the Financial Stability Board and IMF.
The G20 summit, which will be held on September 9-10, will be an important event for the crypto community, as it may provide some clarity on the future of crypto regulation.
India, which holds the current G20 presidency, has been working on a global framework for regulating crypto assets and other G20 members.
Sitharaman confirmed that key issues related to crypto regulation are put on the table for discussion and mitigation.
Crypto regulation has been a hot topic in India, as the government has considered various options, ranging from a ban to a legal framework.
Sitharaman has previously said that India will take a calibrated approach to crypto regulation and that the government will not shut off all options.
She has also expressed openness to experimentation with new technologies like blockchain.
Crypto regulation is also a matter of global concern, as different countries have different approaches and standards.
Some countries, like El Salvador, have embraced crypto as legal tender, while others, like China, have cracked down on crypto activities.
A common regulatory framework for crypto assets would help to harmonize the rules and standards across different jurisdictions and to prevent regulatory arbitrage and fragmentation.
The G20 summit will be an opportunity for the leaders of the world’s major economies to discuss and coordinate their policies on crypto regulation, as well as other issues of global importance.
The summit will also feature the participation of international organizations, such as the FSB and the IMF, which have been studying the implications and challenges of crypto regulation.
The FSB and the IMF will jointly present a report on crypto regulation at the summit, which may provide some guidance and recommendations for the G20 members.
