Indian Prime Minister Narendra Modi once again discussed cryptocurrency regulations at the G20 summit. Speaking at the panel, the Prime Minister requested international cooperation for regulation in the cryptocurrency and blockchain sectors. The Asian giant holding the G20 rotating presidency has been working for a long time for a global crypto regulation.
Prime Minister Modi recently gave an interview on the subject to local media sources. The Prime Minister of India emphasized that technologies such as blockchain and crypto money have a global impact. According to Modi, countries should work on international regulation instead of acting on their own. The Prime Minister pointed to aviation as an example. Safety and rules in the aviation industry have global standards.
“During our country’s G20 Presidency, we frequently brought up cryptocurrencies. These products bring about changes in macroeconomic conditions, especially in developing countries. During our presidency, we host seminars and discussions on crypto.”
India frequently puts forward its proposals on crypto regulations during the G20 Presidency. Demanding global regulation, the Asian giant is trying to deter investors from the crypto market in the domestic market. The government imposed a 30% tax on crypto last year, almost equivalent to the gambling tax.
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