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G20 Nations Looking at Creating Global Crypto Asset Regulation: Report

It is reported that the world's largest economic power has explored the idea of group regulation of cryptocurrencies.

The Group of 20, which accounts for about 90 per cent of global gross national product and 80 per cent of import and export trade, is trying to create a regulatory framework for encrypted assets, Reuters reported.


India, which currently chairs the G20 rotation system, has already issued a decree regulating the cryptocurrency market in the host country.

India's Minister of Finance, Neil Mara Sisalaman.sayTaking fully into account the complex technologies involved in this emerging asset class, member States must explore the need to regulate access passwords.

We are talking to all countries and supervising if necessary, so that a country can't do anything on its own.

We are negotiating with all countries if we can develop some standardized operational procedures that everyone can follow to develop a regulatory framework and whether others can be effectively brought into full play.

At the end of last year, West SalamansaySuch secretive property regulation will be an important focus of discussion during India's presidency of the G20 rotation system.

No one in our country can succeed alone, they are in an isolated situation, trying to regulate encrypted assets. He said:

We should let the G20 members join in and see what is the most important thing to do.


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