{"id":11443,"date":"2023-04-12T06:59:07","date_gmt":"2023-04-12T06:59:07","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=11443"},"modified":"2023-04-12T06:59:08","modified_gmt":"2023-04-12T06:59:08","slug":"india-seeks-common-crypto-framework-for-all-countries-to-deal-with-many-collapses-and-shocks-in-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11443","title":{"rendered":"India Seeks Common Crypto Framework for All Countries to Deal With &#8216;Many Collapses and Shocks in Cryptocurrencies&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>India\u2019s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given \u201cso many collapses and shocks in cryptocurrencies.\u201d She stressed: \u201cWe seek to develop a common framework for all countries to deal with this matter.\u201d<\/strong><\/p>\n<h2>India Seeks Common Framework for Crypto<\/h2>\n<p>Indian Finance Minister Niramala Sitharaman is currently on an official visit to the U.S. to attend this year\u2019s Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) which are taking place from April 10 to April 16. She is also representing India at the G20 Finance Ministers and Central Bank Governors meetings on the sidelines of the IMF-World Bank Spring Meetings.<\/p>\n<p>Sitharaman discussed a wide range of topics during her trip, including cryptocurrency regulation. At a roundtable discussion titled \u201cInvestment Opportunities for the Long Term: India on the Rise,\u201d the Indian finance minister emphasized that the regulation of cryptocurrencies is a key topic being discussed by the G20 nations under India\u2019s presidency. She stated:<\/p>\n<p>Cryptocurrencies are a very important part of the discussion under India\u2019s G20 presidency, given so many collapses and shocks in cryptocurrencies. We seek to develop a common framework for all countries to deal with this matter.<\/p>\n<p>The Ministry of Finance recently told India\u2019s parliament that cryptocurrency is currently unregulated, noting that \u201ccrypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage.\u201d<\/p>\n<p>India\u2019s central bank, the Reserve Bank of India (RBI), has repeatedly recommended that the Indian government ban all cryptocurrencies, including bitcoin and ether. In February, RBI Governor Shaktikanta Das said that the G20 finance chiefs widely recognized that cryptocurrency poses major financial stability risks.<\/p>\n<p>However, the government has stated that both regulating and banning cryptocurrencies would require collaboration on a global scale. During the last meeting of G20 finance ministers and central bank governors, the government requested the IMF and the Financial Stability Board (FSB) to prepare \u201ca synthesis paper\u201d on crypto assets.<\/p>\n<p>Tags in this story<\/p>\n<p>G20 meetings, India, india crypto, India crypto G20, India crypto IMF, india crypto regulation, India crypto world bank, india cryptocurrency, india cryptocurrency regulation, indian cryptocurrency, indian finance minister, World Bank<\/p>\n<p><em><strong>What do you think about the statements by Indian Finance Minister Nirmala Sitharaman? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/india-seeks-common-crypto-framework-for-all-countries-to-deal-with-many-collapses-and-shocks-in-cryptocurrencies\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given \u201cso many collapses and shocks in cryptocurrencies.\u201d She stressed: \u201cWe seek to develop a common framework for all countries to deal with this matter.\u201d India Seeks [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-11443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11443"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11443\/revisions"}],"predecessor-version":[{"id":11445,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11443\/revisions\/11445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11444"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}