The G20 states are working to implement a comprehensive international crypto-regulation, from which no state would be an exception.
Already in December of last year, the news spread that the world’s largest economies wanted to bring the crypto sector under regulation.
The members of the Group of 20, which are responsible for roughly 90% of global GDP and 80% of world trade, are working on the concept of a unified regulatory framework.
The G20 does not extend the implementation of crypto regulation
India, the current president of the organization, has already enacted a regulation regulating the entire crypto market in its own country.
According to Nirmala Sitaraman, India’s finance minister, the leaders of the G20 should first discuss the raison d’être of the initiative, as it is an extremely complex technology.
“We speak to all nations in unison, because when regulation is needed, one country cannot do it all alone. We are conducting negotiations with the member states in order to develop a general agreement that applies equally to everyone. Only then might the precise definition of the foundations of the rule system begin.”
In November 2022, Sitaraman that he statedthat the regulation of cryptoassets will receive a lot of attention during India’s presidency.
“No country can achieve a goal alone, so we have to work together if we want to bring regarding change”explained the politician.
https://www.youtube.com/watch?v=videoseries