G20 exploring coordinated crypto regulation: Reuters

Quick Take

  • Nirmala Sitharaman said the G20 is exploring whether it can coordinate on crypto regulation.
  • “We are talking to all nations, that if it requires regulation, then one country alone cannot do anything,” India’s finance minister said.

Nirmala Sitharaman, finance minister of current G20 president India, said the group of major economies is exploring whether it can coordinate on crypto regulation.

Sitharaman — whose government, under Prime Minister Narendra Modi, and central bank have long debated laws potentially banning cryptocurrencies — cited the sophisticated technology underpinning virtual assets as requiring discussion on regulatory actions, Reuters reported. "We are talking to all nations, that if it requires regulation, then one country alone cannot do anything," Sitharaman said.

"We are talking with all nations, if we can make some standard operating procedure which is followed by everyone to make a regulatory framework, and if it can be effective," Sitharaman added.

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