Several presumptions exist regarding cryptocurrency. While Bitcoin is also prohibited in some countries, transactions are also made in it in others. In the meantime, India has not adopted cryptocurrencies as legal tender. Nirmala Sitharaman, India’s finance minister, has maintained that before any action is taken in relation to cryptocurrencies, there must be international agreement on their regulation.
Gotta work together
During a conversation with the Thinkers Forum in Karnataka, the Finance Minister addressed a query about the regulation of digital or cryptocurrency. He mentioned that a worldwide blueprint might need to be created on this throughout this. This will require cooperation from everyone; else, the regulation won’t be beneficial.
Concentrate on cryptocurrency
“It was our proposal during India’s G20 presidency,” Sitharaman stated. That this is on the G20’s agenda for this year is something I appreciate. The macroeconomic stability of macroeconomics can be impacted by cryptocurrencies, according to a circular from the International Monetary Fund (IMF). The G20-established Financial Stability Board (FSB) has agreed to submit a report that will also emphasize financial stability.
A meeting will take place.
She declared, “The July G20 conference of finance ministers and central bank governors will address both the FSB report and the IMF report. The Prime Ministers and Presidents of the G20 countries will then gather at a summit in India in September.
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