Nirmala Sitharaman Comments on India’s Notion of Crypto at FMCBG

• India’s Finance Minister says, “India views anything that is outside of the Central Bank not as a currency.”
• “Cryptocurrencies should be regulated as they are not issued by sovereign banks,” she adds.
• Sitharaman shared the country’s gladness with many G20 members acknowledging India’s position on crypto.

During India’s G20 Presidency, the meeting of Finance Ministers and Central Bank Governors (FMCBG), India’s Finance Minister Nirmala Sitharaman addressed the country’s position on crypto regulation. She said that India firmly holds the notion that “anything outside of the Central Bank is not a currency”.

Notably, NSitharamanOffice, the official Twitter account of the office of the Finance Minister shared a video clip from the G20 meeting, quoting Sitharaman’s words:

There's almost a clear understanding that anything outside of the Central Bank is not a currency. This position has been taken by India for a very long time & we're glad that this position has been acknowledged by many G20 members.

– Smt @nsitharaman in Bengaluru. pic.twitter.com/LzOAT5hLGC

— NSitharamanOffice (@nsitharamanoffc) February 25, 2023

In the clip, Sitharam…

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