I am sharing a very big update with you people from the G20 Meeting as we all know that there is going to be a discussion about crypto inside the G20, so yesterday there was a meeting here. Central Bank Governor So There are also countries here, within G20, their Finance Minister and Central Bank Governors are holding a meeting together where there has been a discussion about crypto, so there is some statement about crypto here.
It tells us what the government, Indian ministers, are looking at the future of crypto, do they want to regulate it or want to ban it? So first of all, the statement you have received is from the RBI Governor, so here in this statement, he said that everyone should have clarity about this matter. I have been thinking for a long time and we have come to this position that the rest of the members of Zee G20 are also giving a knowledge about this and what is the fear of the decision of the complete crypto ban. He also said here that we are all afraid of multiple options and every country of G20 is free to take a decision on its own and whatever decision is finalized here, all the countries will follow it and give any statement at this time.
India’s push to regulate crypto gains IMF, U.S. support at G20
Apart from RBI Governor Shaktikanta Das ji, nirmala sitharaman ji, her viewpoint is a bit different here from the RBI Governor and she said here that you have the risk of private virtual assets inside the statement. Accepting this, Twente has prepared a comprehensive policy to deal with crypto assets and with this we are going one step further towards regulation.
He continued his statement here and said that imf aid which is FSB financial stability bold is here they are engaged in their due diligence and we will ask them for their report soon and then confirm that report. If they try to finalize in the discussion meeting, then there will now be a meeting in July in which the IMF Access B report which is ready here will be discussed for what fear?
Here we will go one step ahead on and regulation, so all these things are here, our Finance Minister Nirmala Sitharaman ji said here. Let’s see in this meeting many different viewpoints have been seen where the Governor is saying something else, the Finance Minister is saying something else, so now it will be interesting to see how the government will move forward with crypto regulation. But it is certain that by the end of this year, we will get a lot of things that are there to hear from the regulation perspective. The Bitcoin Revolution in El Salvador:
Since holding the G-20 leadership, India has officially revealed details of the ongoing work around how to regulate crypto.According to Ajay Seth, secretary of the Department of Economic Affairs, the IMF is working on a paper with India that will focus on “aspects of the monetary policy and the policy approach to crypto assets.
The Indian government is waiting for international agreement before releasing its proposed bill to regulate cryptocurrencies.
“We had prepared a bill (which) went through internal discussions. Thereafter there was a consensus that we have to deal with it at the global level,” Seth said.
G20 Countries
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union make up the Group of Twenty (G20). The G20 members account for nearly two-thirds of the world’s population, over 75% of global trade, and 85% of the world’s GDP.
