India Says G20 Members See Need For Global Crypto Regulations

Indian Finance Minister Nirmala Sitharaman said on Thursday there was a greater acceptance among Group of 20 member countries that any new regulations on the crypto assets need to be globally coordinated, and said crypto assets not backed by central banks can fall and cause macroeconomic instability.

"The G20 and its members agree that it's not going to be possible to have an independent, standalone country dealing with the crypto assets," Sitharaman told a news conference after a meeting of G20 finance ministers and central bank governors.

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