Indian Prime Minister Modi calls for global cryptocurrency framework at G20 summit
India has been advocating for a global crypto framework for years, even though its own crypto ecosystem still lacks a regulatory framework clear and simpler taxation.
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Indian Prime Minister Narendra Modi called for global collaboration on formulating crypto regulations at the annual Group of 20 (G20) summit. As chair of the G20, India has taken on the task of advocating for a comprehensive global framework to regulate cryptocurrencies.
The G20 comprises 19 countries and the European Union, representing the world's major developed and emerging economies, and leads international economic cooperation that plays a vital role in strengthening the global architecture and governance across all major international economic issues.
During an interview with a local daily, Modi spoke about the role of emerging technologies such as blockchain and cryptocurrency. Modi noted that the nature of these emerging technologies will have a global impact. Thus, the rules, regulations and frameworks surrounding them should not belong to a single country or a group of countries.
Modi cited the example of the aviation industry and said that similar to common rules and regulations governing air traffic control or aviation security, emerging technologies such as cryptocurrencies should also be regulated worldwide. He further added that India is doing its part in the conversation on crypto regulation:
“India’s G20 Presidency has broadened the crypto debate beyond financial stability to consider its broader macroeconomic implications, particularly for emerging markets and developing economies. Our presidency has also organized enriching seminars and discussions, deepening knowledge about crypto assets. »
On August 1, India released a Presidency Note, which included its contribution to the Global Crypto Framework. The suggestions on the crypto framework have been aligned with the guidelines written by the Financial Stability B...
India has been advocating for a global crypto framework for years, even though its own crypto ecosystem still lacks a regulatory framework clear and simpler taxation.
News
Join us on social networks
Indian Prime Minister Narendra Modi called for global collaboration on formulating crypto regulations at the annual Group of 20 (G20) summit. As chair of the G20, India has taken on the task of advocating for a comprehensive global framework to regulate cryptocurrencies.
The G20 comprises 19 countries and the European Union, representing the world's major developed and emerging economies, and leads international economic cooperation that plays a vital role in strengthening the global architecture and governance across all major international economic issues.
During an interview with a local daily, Modi spoke about the role of emerging technologies such as blockchain and cryptocurrency. Modi noted that the nature of these emerging technologies will have a global impact. Thus, the rules, regulations and frameworks surrounding them should not belong to a single country or a group of countries.
Modi cited the example of the aviation industry and said that similar to common rules and regulations governing air traffic control or aviation security, emerging technologies such as cryptocurrencies should also be regulated worldwide. He further added that India is doing its part in the conversation on crypto regulation:
“India’s G20 Presidency has broadened the crypto debate beyond financial stability to consider its broader macroeconomic implications, particularly for emerging markets and developing economies. Our presidency has also organized enriching seminars and discussions, deepening knowledge about crypto assets. »
On August 1, India released a Presidency Note, which included its contribution to the Global Crypto Framework. The suggestions on the crypto framework have been aligned with the guidelines written by the Financial Stability B...
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