On April 11, Indian Finance Minister Nirmala Sitharaman stated that the purpose of India’s G20 presidency is to develop a common framework for all countries to deal with the risks associated with cryptocurrencies after the recent shocks in the crypto market.
Given that there have been so many crashes and shocks in cryptocurrencies, cryptocurrencies were a very important part of the discussions during the G20 India presidency. We seek to develop a common framework for all countries to deal with this issue.
With India’s G20 presidency ending on November 30, 2023, G20 countries will have about seven months to formulate comprehensive crypto reforms that can be implemented across different jurisdictions.