Indian Finance Minister Nirmala Sitharaman said that the International Monetary Fund (IMF) should lead the way in the global regulation of crypto assets.
The meeting between India and IMF officials discussed the importance of regulating crypto assets and the need for a globally coordinated, synchronized approach to the issue.
Indian Finance Minister Calls IMF for Crypto Regulation
Indian Finance Minister Nirmala Sitharaman told IMF Managing Director Kristalina Georgieva at her meeting in New Delhi that the International Monetary Fund (IMF) should guide the global regulation of crypto assets.
Concerns were also raised about cross-border impacts due to significant downside risks to the global economy, a volatile geopolitical situation and tighter financial conditions.
Ms. Kristalina Georgieva @KGeorgieva MD, IMF, @IMFNews met with FM Smt. @nsitharaman in New Delhi, today, to discuss India’s upcoming G20 Presidency and IMF’s support to India for the Presidency. (1/10) pic.twitter.com/CuNDyv28GC
— Ministry of Finance (@FinMinIndia) September 7, 2022
According to a Twitter post shared by the Indian Finance Ministry, the leaders discussed digital assets and regulations, as well as the upcoming G-20 presidency and the IMF’s support for India for this role.
Nirmala Sitharaman, the Minister of Finance of India, where crypto adoption is high, introduced a 30 percent flat tax on all crypto income from April 1 and a 1 percent tax cut on transactions above INR 10,000 ($125) from July 1.
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