At the G20 meeting, it was planned to develop a common framework to help all countries deal with the risks associated with crypto investments.
The G20 president, India, has called for the creation of a global common crypto policy. This is the vision that the country’s Finance Minister, Nirmala Sitharaman, has put forward.
She discussed the failures that have occurred in the crypto industry. and demonstrates the need for cooperation between jurisdictions around the world.
“At the #G20India conference, crypto was the top priority. We are trying to develop a common framework for all countries to deal with crypto.”
The goal of the G20 is to combat extreme debt and inflation in smaller economies such as Sri Lanka and Ghana, Sitharaman said.
“It is a great opportunity for India and other countries to resolve their debt problems in impoverished countries. Many multinational institutions have proposed solutions to these debt problems in 3-5 years.”
India’s G20 chairmanship expires on Nov. 30, 2023. The Indian government is working on its own payment system called UPI, which is now partnering with Singapore’s PayNow.
Bank of India and Commercial Bank of India ICICI will assist with outbound remittances, along with Axis Bank and DBS Bank India, who will facilitate inbound remittances.
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