India calls for a global cryptocurrency regulatory framework

 

India

calls for a globa

cryptocurrency regulatory framework

1. India once again called
2. for a global approach to cryptocurrency
3. regulation during its G20 presidency.

During an interview with Business Today :

1. India's Prime Minister
2. Narendra Modi
3. once again stressed the need

for a global approach to regulating cryptocurrencies and digital assets.

India :

maintains its view on

• the global regulatory framework for cryptocurrencies

• Ahead of this year's G-20 summit

• to be held in Delhi on September 9 and 10

India :

which holds this year's presidency

reaffirmed the need for uniform cryptocurrency regulations.

During the interview

Prime Minister Narendra Modi addressed emerging

technologies such as cryptocurrencies

and blockchain and noted that these technologies have a global impact.

As such

PM Modi said that

regulating such techniques needed a global approach.

Noting that India

is doing its part to contribute to the framework

the Prime Minister said:

• "India's presidency of the G-20 extended the talk of

• cryptocurrencies beyond financial stability to

• consider their broader macroeconomic implications

• especially for emerging markets and developing economies.

Our chairmanship also hosted rich seminars and discussions

and thoughts on cryptocurrency assets deepened.

Modi supports

African Union's accession to G20

PM Modi said he supported the G-20 being more inclusive and would prefer to add the AU to the G-20 to make it part of the discussion on cryptocurrency regulation.

Modi said:

We have not stopped thinking about how to move forward.

We have come up with concrete details about the way forward

and how quickly we need to move.

Our road map is therefore detailed and action-oriented. "

India :

coordinates its views with IMF, FSB and FATF

India recently commented on

• the approach to cryptocurrency regulation

• and strongly stresses that the G-20

• must implement harmonized cryptocurrency regulations.

India's views

are consistent with those of IMF and the Financial Stability Board.

On several previous occasions, Indian legislators and politicians have indicated that there is a need for global consensus to address the issue of regulation.