Finance Minister Nirmala Sitharaman on Saturday said that during the G20 Summit the leaders will take a call on crypto asset regulations.
During the media briefing on Saturday, Sitharaman also spoke on the policy paper for crypto activities, jointly published by the International Monetary Fund (IMF) and Financial Stability Board (FSB).
According to Sitharaman, FSB has focused more on the crypto regulations, whereas IMF has emphasised the macroeconomic implications of crypto assets. Sitharaman highlighted that the “IMF-FSB Synthesis Paper” for crypto asset policies will be discussed in Morocco. “It’s for the membership to take a call as to how it wants to move on it, a framework or a template. I don’t think we have given it a name as of yet, and also to now discuss whether it’s going to be a regulation only and not a ban,” Sitharaman stated.
Meanwhile, the Finance Minister also expressed gratitude to all G20 member nations for their cooperation and support in endorsing the New Delhi Leaders’ Declaration.
The New Delhi Leaders’ Declaration underscores the importance of addressing the concerns and priorities of the Global South, recognising the challenges and opportunities faced by these nations.
It reflects a commitment to fostering inclusive growth and ensuring that the benefits of globalization are distributed equitably among all countries and their citizens.
Prime Minister Modi’s emphasis on human-centric globalisation places people at the forefront of international economic and social policies.
It encourages cooperation among nations to address pressing global issues, such as climate change, economic inequality, and public health crises, with a focus on improving the well-being of all individuals worldwide.
The adoption of this declaration comes as a significant step forward in shaping the future of global cooperation, promoting sustainable development, and ensuring that no nation is left behind in the pursuit of shared prosperity.