Government engaging with G-20 countries on coverage strategy for Crypto Assets
The Government is engaging with G-20 countries to build worldwide coordination on coverage strategy for the crypto property. This was said by the Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a query in Lok Sabha.
The Minister went on to say that the Indian Presidency allows placing many objectives on the desk for worldwide cooperation, together with precedence on crypto property. Since cryptocurrencies are by definition borderless, worldwide cooperation is important to stop regulatory arbitrage. Hence, the Minister stated, any laws for regulation or for banning can solely be efficient with main worldwide collaboration on assessing the advantages and hazards and driving the development of common taxonomies and requirements.