India, which currently holds the G20 presidency, has been working with the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to develop a regulatory approach for cryptocurrencies, according to the country’s Department of Economic Affairs Secretary Ajay Seth. “We have reached out to the IMF, and the IMF is working on the paper with us to bring in aspects of monetary policy, macroeconomic aspects, and policy approach to crypto assets,” Seth told the Press Trust of India. The IMF will present its paper at the G20 meeting in Bengaluru in February. On December 1, India assumed the presidency of the G20, an intergovernmental forum comprised of 19 of the world’s largest economies as well as the European Union.
