Indian Finance Minister Nirmala Sitharaman stated that the G20 is conducting joint research on the regulation of cryptocurrencies.
The collapses and losses of cryptocurrencies have prompted many countries to act on crypto regulations. Finally, the bankruptcy of FTX and the crypto collapse that took place last year were effective in this regard. One of the main agendas of the crypto industry has been crypto regulations. In this context, Indian Finance Minister Nirmala Sitharaman underlined that the G20 acts jointly on crypto regulations.
G20 Explores Crypto Regulations
According to the report by Reuters, Indian Finance Minister Nirmala Sitharaman stated that the G20 is acting jointly on crypto money regulations.
Sitharaman, India’s head of the G20 this year, noted that major economies characterized as the G20 are collectively conducting research on the regulation of cryptocurrencies.
Sitharaman made a press statement after meeting with central bank governors in New Delhi. “We are talking to all nations, if it requires regulation, then no single country alone can do anything,” the minister said.
Also, Indian Prime Minister Narendra Modi had taken drastic steps to ban and suppress cryptocurrencies in the country. However, this move of Modi did not accompany a definite result.
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