©Reuters.
During the first G20 meeting of Finance Ministers and Central Bank Governors (FMCBG) under the Indian Presidency, members were invited to discuss key financial stability and regulatory priorities, among other policy approaches. India urged member states to build and understand the macro-financial implications of crypto assets and recommended formulating a coordinated global policy.
India’s Finance Minister Nirmala Sitharaman has in the past backed the idea of creating crypto regulations in partnership with other jurisdictions, given the global reach of crypto assets. Under India’s G20 presidency, this narrative is now part of mainstream discussions.
India’s Finance Minister Nirmala Sitharaman during the FMCBG meeting in Bengaluru. Source: Ministry of Finance.
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