💥💥 At the last FMCBG meeting in Morocco, India would push for discussions on cryptocurrency regulation.
On October 12 and 13 in Marrakesh, Morocco, finance ministers and central bank governors will gather for the last time while India is holding the G20 presidency.
One of the meeting's main agenda items is anticipated to be the path for cryptocurrency legislation. India will try to see that the challenges included in the New Delhi Declaration, such as a regulatory framework for cryptocurrencies, are resolved.
Indian Finance Minister Nirmala Sitharaman presided over a meeting with the heads of Multilateral Development Banks (MDBs) and co-conveners of the G20 Independent Expert Group before the 4th G20 Finance Ministers and Central Bank Governors (FMCBG) conference.
Local crypto platforms who have been waiting for clear crypto rules for a while now are feeling more optimistic as a result of the G20 proclamation on crypto assets.
However, there is still time before such specific restrictions are put into place in India, despite the government's expressed intention in doing so. Self-regulatory bodies are being demanded by Indian cryptocurrency platforms.
Earlier, Shaktikanta Das, governor of the Reserve Bank of India, asked fintech companies to create their own self-regulatory body while delivering the keynote presentation at the Global FinTech Fest 2023.
India won the top spot on Chainalysis' Global Crypto Adoption Index despite legal ambiguity and onerous tax regulations.
