Working with the G20 to develop a global policy approach to crypto assets: Government of India

  Working with the G20 to develop a global policy approach to crypto assets: Government of India

India is working with G20 countries to build international coordination on policy approach to crypto-assets, Parliament was informed on Monday.

India's G20 chairmanship provides an opportunity to put various priorities, including the priority on crypto-assets, on the agenda for international cooperation, Finance Secretary Pankaj Chaudhary said in a written reply to the Lok Sabha.

Crypto-assets are by definition borderless and require international cooperation to prevent regulatory arbitrage, Chaudhary said.

"Therefore, any legislation to regulate or ban can only be effective with significant international cooperation in assessing the risks and benefits and developing a common taxonomy and standards," the minister said in the reply.