IGI Logo

Union Finance Minister Nirmala Sitharaman has said that various issues surrounding cryptocurrencies were discussed at a key G20 meeting and India's inputs will play an important role in formulating a comprehensive global policy for the new-age assets. 

The minister said members welcomed the high-level recommendation of the Financial Stability Board (FSB) on crypto asset activities. Members also discussed the presidency note that India had prepared, and noted it would be an important input towards prioritising areas of work essential for achieving a comprehensive, cohesive and coordinated global policy and regulatory framework. Several members appreciated India for bringing up this issue.

Talking about India's stand on the digital assets, she said now that discussions on cryptocurrencies are widening, there is a common view that a global understanding is required for regulating crypto assets and their implications on emerging markets and developing economies. She said there are even small countries which are under the impact of unregulated crypto assets.