India’s Finance Minister, Nirmala Sitharaman, suggested that regulation “cannot be done” by a single country, it requires an international effort, in a recent television interview.that while the central bank is the “authority for issuing cryptocurrency,” the rest of the digital assets created outside are “using very useful financial technologies.”
Sitharaman said that India is looking at a"global" standard operating procedure to be “agreed upon” for regulating crypto assets, ahead of India hosting the G20 Finance Ministers and Central Bank Governors meeting in Bengaluru later this month.“Regulation cannot be done by any one country singularly, it has to be a collective action because technology doesn’t group any borders.”
Good luck with that. Other countries/states will jump on the opportunity to bring in innovation if you don't want to.
Sitharaman said that India is looking at a “global” standard operating procedure to be “agreed upon” for regulating crypto assets, ahead of hosting the G20 finance ministers and central bank governors meeting in Bengaluru later this month.
🛡️ MTGDAO🛡️ $MTG HAS BEEN BURNING NON STOP 🔥 ✅ $SMTG launched yesterday with over 4M+ burned already 💪 🔒270M Team Tokens Locked with RealFlokiInu / FlokiFi 🔥 ✅No min or max stake ✍️ Buy Now ! 👇 TG:
We hope India will regulate Crypto in a positive way. iExec community will love to see some positive sentiments regarding regulations ⌛️ $RLC
India doesn't support crypto well and now trying to tell the world of what to do? Eat that ridiculous 30% + 1% tax by yourself 🤮
On one hand you want to destroy the US dollar as reserve currency via joint action with the BRICS group + Saudi led OPEC and on the other hand you want a joint action against something which will eventually become the safety net for what will follow immediately after.