Cryptocurrencies: Finance Minister Nirmala Sitharaman alerted about cryptocurrency and said that everyone needs to pay attention to it. He said that efforts should be made that there is no loss to the economy and there is no loss of profit on crypto assets. The Finance Minister said these things during the G20 meeting in Washington DC.
Nirmala Sitharaman participated in a brainstorming session on “Macrofinancial Implications of Crypto Assets” with G20 Finance Ministers and Central Bank Governors at the IMF headquarters on Friday. During this, he kept his views about cryptocurrency. He asked to pay special attention to the comprehensive rule on this. Please tell that India is currently presiding over the G20.
Crypto discussion intensifies among G20 countries
Discussions among the G20 countries regarding cryptocurrency are intensifying, due to which crypto has emerged as a major issue among these countries. Many countries are agreeing about it, while some countries have a different opinion. Experts have also given information on this issue. Nirmala Sitharaman said that the G20 acknowledged the work of the International Monetary Fund (IMF) and the Financial Stability Board (FSB) in bringing forward key elements of the policy and regulatory framework.
Synthesis paper required for crypto assets
The Finance Minister said that there is a need for a synthesis paper, which integrates the macroeconomic and regulatory aspects of crypto assets. He said that there should be a global regulation on crypto assets among the G20 members. In this, the economy risk and investment risk etc. should be taken care of.
The rise in crypto in the last few days
Many coins of cryptocurrencies are trading rapidly in the global and Indian crypto market. Apart from bitcoin and ether, the top digital coin has registered an increase. On Friday, the crypto markets were trading with a jump of more than 4 percent.
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