Coordinated global crypto policies: G20 key financial stability priority

cointelegraph.com:

During the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s presidency, the members were invited to discuss key financial stability and regulatory priorities, among other policy approaches. India urged member nations to build and understand the macro-financial implications of crypto assets and recommended formulating a coordinated global policy.

India’s Finance Minister, Nirmala Sitharaman, has historically supported the idea of creating crypto regulations in partnership with other jurisdictions — given the global reach of crypto assets. Under India's G20 Presidency, this narrative is now a part of mainstream discussions.

During the FMCBG meeting held on Feb. 24 and 25, G20 members discussed the potential of technology innovations while emphasizing balancing associated risks. Key discussions included financial stability and regulatory priorities, policy approaches for advancing financial inclusion and productivity gains for the G20.

Union Finance Minister Smt. @nsitharaman & Shri @DasShaktikanta, Governor @RBI steered #G20 discussions in 2nd session on key financial sector and #FinancialInclusion issues during the 1st #G20 #FMCBG meeting under #G20India Presidency, in Bengaluru, today. (1/6) pic.twitter.com/bRtFmrBL9x

In her closing remarks, Sitharaman welcomed support for reforms related to crypto assets. Specifically, the finance minister called for a coordinated effort “for building and understanding of the macro-financial implications,” which could be used to build global crypto reforms.

She further thanked the International Monetary Fund (IMF) for releasing a comprehensive paper on the macro-financial implications of crypto assets. On an end note, Sitharaman underlined the need for