On Wednesday, India’s Finance Minister Nirmala Sitharaman has urged that the International Monetary Fund(IMF) should lead the way in global regulation of crypto assets.
Sitharaman brought up this suggestion in her meeting with the IMF Managing Director Kristalina Georgieva in New Delhi. Both the dignitaries also discussed the importance of regulation of crypto assets and the need to have a globally coordinated, synchronized approach for the same.
Apart from touching upon crypto concerns, they also talked about key risks to the global economy and the cross-border consequences due to the volatile geopolitical circumstances and stringent financial situations.
There have been instances where Indian officials have laid down the perils of crypto and cautioned the public against its use and the most recorded one was certainly the 30% tax on crypto income.
Recently, the RBI governor, S Das called cryptos as an instrument for dollarization of the developing countries like India citing the denomination of prices of crypto in dollars.
Also read: India’s FM Cautions against Crypto use as ED Investigates Exchanges
