India G20 confirms 'active discussions' around global crypto framework

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India G20 confirms 'active discussions' around global crypto framework
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Ever since India took over the G20 presidency in Q4 2022, the country consistently highlighted the need for global collaboration when it comes to financial security and stability.

However, the finance minister confirmed that G20 members are together working on the the highly anticipated crypto regulations.

“India’s presidency has laid out issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets. Active discussions are happening, content-rich papers from institutions like IMF, FSB, OECD are all being discussed on various issues.” Sitharaman also confirmed that the International Monetary Fund and the Financial Stability Board have submitted their synthesis papers on cryptocurrency.India’s rising interest in blockchain and crypto becomes more evident after the National Payments Corporation Of India’s recent job posting. NPCI, an initiative led by the Reserve Bank of India and 247 Indian banking companies, is looking to hire a head of blockchain.

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