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Indian Finance Minister Nirmala Sitharaman has called on the International Monetary Fund (IMF) to play a leading role in regulating crypto-assets. IMF Managing Director Kristalina Georgieva says international organizations are ready to work with India on climate change, crypto regulation and other global challenges of our time.
Indian Finance Minister Nirmala Sitharaman met with International Monetary Fund (IMF) Executive Director and Chairman of the Board Kristalina Georgieva in New Delhi on Wednesday. The two discussed a wide range of topics, including India’s upcoming G20 presidency and crypto regulations.
Sitharaman and Georgieva discussed the importance of regulating crypto-assets and the need to have a “globally coordinated and synchronized approach to the issue,” according to the Indian Ministry of Finance. finance minister urged the IMF to play a leading role in this regard.
Sitharaman’s statement reflected her call for a global regulatory framework for cryptocurrencies. meeting With the IMF and the World Bank in April. India’s finance chief warned of money laundering and terrorism financing risks that affect all countries, pointing out that no country can handle these risks alone. She stressed that crypto-assets can only be regulated if countries work together.
Georgieva tweeted after meeting with Finance Minister on Wednesday, confirming that IMF is ready to work together with Indias Finance Minister on climate change, crypto regulation and other contemporary global challenges. Did.
Following his meeting with Sitharaman, Georgieva told CNBC TV18 on Friday that the IMF is working with India on cryptocurrency regulation, stressing the importance of balancing strengths and weaknesses. The Managing Director of the IMF explained:
India’s digital ecosystem is strengthening as crypto emerges strong without regulation. It’s important to remember that cryptocurrencies are like the Wild West.
Georgieva further noted that Indian Prime Minister Narendra Modi has emphasized the benefits of leveraging India’s experience in digitalization, using clear deliverables to develop a more practical roadmap. I added that it can be created. It would be great if India could take the lead in ensuring transparency and data ownership, he concluded the IMF Secretary-General.
Do you agree with the Indian Finance Minister that the IMF should play a leading role in regulating cryptocurrencies? Let us know in the comments section below.
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