India has pushed for Global Regulation of crypto for a long time, which can help in dealing with the risk in developing economies.
India is currently the G20 president and is using this opportunity to achieve significant development in several sectors. One of the primary focuses is the crypto sector.
India has supported the Financial Stability Board (FSB) and International Monetary Fund (IMF) suggestions. IMF-FSB presented a synthesis paper on crypto, which would help nations and investors.
The paper suggests that worldwide coordinated regulation will be an effective way to tackle cons in the crypto sector. Regulating crypto sectors separately worldwide can damage the nation and its financial stability.
IMF-FSB also stated that the synthesis paper is expected to be released at the end of August. The body expects that the G20 nations will consider their paper and act as soon as possible. All the issues in the crypto sector will be solved by various agencies under one umbrella.
This synthesis paper will act as the basis on which the G20 nations can express their priorities and develop the perfect framework.
The crypto sector is developing, and nations are finding it difficult to regulate. Thus, a coordinated global crypto policy can be achieved and applied soon.