Indian Finance Minister Nirmala Sitharaman advocates for a unified global approach to cryptocurrency regulation, stressing the importance of international collaboration, particularly within the G20 framework. She acknowledges differing opinions within Indian regulatory bodies regarding crypto treatment but asserts that there is currently no significant confusion.

Sitharaman highlights ongoing discussions within India's Finance Ministry, as well as engagement with international organizations like the IMF and FSB, to address regulatory challenges. She emphasizes the ineffectiveness of unilateral regulation in the borderless realm of cryptocurrency and underscores the necessity of consensus among nations.

Regarding potential confusion among Indian regulators, Sitharaman clarifies that while there are differing opinions, there is no consensus on a regulatory approach yet. Last week, SEBI and the RBI submitted their respective recommendations on crypto regulation, with SEBI advocating for oversight from multiple regulators and the RBI expressing concerns about macroeconomic risks.

India currently lacks a dedicated regulatory framework for cryptocurrencies, although discussions are ongoing. The FIU-India monitors cryptocurrency-related entities, and recently authorized exchanges like Binance and Kucoin. Sitharaman expects a regulatory framework to be developed through G20 discussions.

What are your thoughts on Sitharaman's call for global consensus on cryptocurrency regulation and her emphasis on international cooperation through platforms like the G20? Share your opinions in the commentIndian Finance Minister Nirmala Sitharaman advocates for a unified global approach to cryptocurrency regulation, stressing the importance of international collaboration, particularly within the G20 framework. She acknowledges differing opinions within Indian regulatory bodies regarding crypto treatment but asserts that there is currently no significant confusion.

Sitharaman highlights ongoing discussions within India's Finance Ministry, as well as engagement with international organizations like the IMF and FSB, to address regulatory challenges. She emphasizes the ineffectiveness of unilateral regulation in the borderless realm of cryptocurrency and underscores the necessity of consensus among nations.

Regarding potential confusion among Indian regulators, Sitharaman clarifies that while there are differing opinions, there is no consensus on a regulatory approach yet. Last week, SEBI and the RBI submitted their respective recommendations on crypto regulation, with SEBI advocating for oversight from multiple regulators and the RBI expressing concerns about macroeconomic risks.

India currently lacks a dedicated regulatory framework for cryptocurrencies, although discussions are ongoing. The FIU-India monitors cryptocurrency-related entities, and recently authorized exchanges like Binance and Kucoin. Sitharaman expects a regulatory framework to be developed through G20 discussions.

What are your thoughts on Sitharaman's call for global consensus on cryptocurrency regulation and her emphasis on international cooperation through platforms like the G20? Share your opinions in the comments below.s below.