In an interview with CNBC-TV18 on Sunday, India’s Economic Affairs Secretary Ajay Seth discussed the Indian government’s approach to creating a crypto framework for the country.
He said that the government will consult with global and domestic stakeholders and consider all the recommendations made at the recent G20 summit, where crypto regulation was a key topic.
He added that the government will decide on its own policies and take further action in the coming months.
The G20 summit, which India hosted, endorsed the high-level recommendations by the Financial Stability Board (FSB) on how to regulate crypto assets and stablecoins.
The G20 also welcomed the proposals by the International Monetary Fund (IMF) and other standard-setting bodies.