G20 Summit 2023: Finance Minister Nirmala Sitharaman, while highlighting the key achievements of India’s G20 Presidency in the finance track, emphasized the increasing international momentum for establishing clearer policies on crypto assets. Under India’s leadership, a global consensus is taking shape. The Presidency is committed to supporting the International Monetary Fund (IMF) in this endeavor, while the Financial Stability Board (FSB) is actively crafting a regulatory framework for a coordinated global approach to crypto assets. Collaboratively, the Presidency, IMF, and FSB are defining these regulatory contours. A pivotal IMF and FSB synthesis paper, complete with a roadmap, elucidates how the policies and regulatory frameworks formulated by these organizations, alongside other standard-setting bodies, will harmonize and interact.
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