Indian Finance Minister: Countries need to establish effective mechanisms to control crypto assets

Nirmala Sitharaman, India's Finance Minister, shared the latest progress in implementing a regulatory roadmap for cryptocurrencies during yesterday's virtual G20 summit. Sitharaman stated that countries need to establish effective mechanisms to control crypto assets, and emphasized the need for not only G20 countries but also members of the FSB from around the world to participate. While acknowledging that countries may develop their own cryptocurrency laws, she cautioned against implementing a "comprehensive" ban on cryptocurrency activities.