India asks IMF, FSB to prepare document on regulation of crypto
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India believes that crypto currencies being virtual assets cannot be properly regulated without international cooperation. Keeping this in mind, the IMF and the FSB have been asked to prepare a technical document.
Bangalore. India, the chair of the G-20, has asked the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to jointly prepare technical papers on crypto assets. This will be used to formulate a coordinated and comprehensive policy for the regulation of crypto assets. This information was given in a release issued by the Ministry of Finance on Saturday. According to this, the IMF and FSB can present this joint document during the ongoing meeting of Finance Ministers and Central Bank Governors of G20 countries in Bengaluru.
“To complement the ongoing dialogue on the need for a policy framework, the G-20 under the chairmanship of India has proposed a Joint Technical Document of the IMF and the FSB, which outlines the macroeconomic and regulatory framework for crypto-assets,” the finance ministry said. Will look into matters.
This will help in formulating a coordinated and holistic policy on crypto assets. India believes that crypto currencies being virtual assets cannot be properly regulated without international cooperation. Keeping this in mind, the IMF and the FSB have been asked to prepare a technical document.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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