In the next months, the discussion over cryptocurrency regulation is expected to flare up.
Digital Desk: As per sources, the finance ministry is mulling
cryptocurrency laws. The development comes amid ongoing concerns about
financial instability and the hazards associated with digital assets.
According to sources, most countries view cryptocurrency as a
source of terror funding and money laundering.
According to reports, India had negotiations with other
bilateral partners and international organizations on global regulation of
private cryptocurrencies on the sidelines of the G20 summit.
In the next months, the discussion over cryptocurrency
regulation is expected to flare up.
"By definition, cryptocurrency is transnational,
necessitating international coordination to prevent regulatory arbitrage.
" As a result, any law for regulation or prohibition may be successful
only after extensive international collaboration on evaluating risks and
advantages, as well as the establishment of a common taxonomy and
standards," Finance Minister Nirmala Sitharaman had stated.
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