G20 FMCBG meeting under India’s presidency discussed key financial stability and regulatory priorities
India's finance minister Nirmala Sitaraman called for a coordinated effort for building an understanding of the macro-financial implications.
Nirmala Sitharaman has supported creating crypto regulation in collaboration with jurisdictions given the global reach of crypto assets. under India's G20 Presidency.
During the FMCBG meeting held on Feb 24-25, G20 members discussed the potential of technology innovations while emphasizing balancing associated risks.
Discussion 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— Ministry of Finance (@FinMinIndia) February 24, 2023
During India's presidency, the inaugural gathering of the G20 Finance Ministers and Central Bank Governors (FMCBG) addressed critical financial stability and regulatory issues. Among the priorities discussed was the macro-financial impact of cryptocurrency assets, with India calling for a joint global strategy to address them.
She further thanked the international Monetary fund for releasing a comprehensive paper on the macro-financial implications of crypto assets.
Sitharaman underlined the need for coordination among the G20 members to support responsible technological innovations and safeguard the stability of the financial system.
The Board of Control for Cricket in India publish a 68-page advisory asking the Women's Premier League to refrain from crypto advertising and sponsorships.
“No franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an entity that is involved/operates, directly or indirectly, in the cryptocurrency sector.”
After the introduction of a ban on men's cricket Premier League in 2022, it was revealed that the Indian Premier League had previously partnered with two domestic crypto exchanges, namely CoinSwitch Kuber and CoinDCX.
Related: India aims to develop crypto SOPs during G20 presidency