Indian Finance Minister Nirmala Sitharaman called on the International Monetary Fund (IMF) to take a “leading role” in regulating crypto assets in the country.
Nirmala Sitharaman and International Monetary Fund (IMF) Executive Board Chair Kristalina Georgieva discussed the importance of a “globally coordinated and synchronized approach to regulating cryptoassets” at a meeting in New Delhi.
India’s finance minister believes that global money laundering and terrorist financing risks can only be prevented when countries cooperate and called on the IMF “to play a leading role in this regard.”
Kristalina Georgieva, commenting on Twitter, the outcome of the meeting, confirmed that the IMF is “ready to work” with the Indian finance minister “on the regulation of cryptocurrencies and other global challenges of our time.”
Earlier, Nirmala Sitharaman appealed to the leadership of the Reserve Bank of India (RBI) and the government of the country with the requirement to develop tough rules for regulating digital assets, referring to the “destabilizing effect of cryptocurrencies on monetary and fiscal stability.”
Source: Bits
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