India, the current president of the Group of Twenty (G20), has issued a note on cryptocurrency in an attempt to get its views included in the development of global crypto legislation.
The memo is significant since it is the formal document that expresses India’s recommendations prior to the next iteration of drafting global crypto rules – a synthesis paper prepared jointly by the International Monetary Fund (IMF) and Financial Stability Board (FSB).
Individually, the FSB urged for stronger rules for crypto asset operations and worldwide stablecoin agreements in July.
The synthesis document is anticipated at the end of August, less than two weeks before the G20 Leaders’ Summit, according to the letter.
On July 18, an IMF blog stated that the synthesis report would be delivered at the summit.