News Muncher - searching for g20

G20 Summit 2023 New Delhi Declaration Crypto Regulation Policy Global Consensus Emerging IMF FSB CBDC Digital Rupee

Prime Minister Narendra Modi announced on Saturday that the G20 had achieved unanimous agreement on a leaders' declaration. Among other notable developments, it appears that the much-discussed global coordination on crypto regulation has taken a solid step forward, as Finance Minister Nirmala Sitharaman said that a “global consensus” is emerging on virtual digital asset policies. Sitharaman said, “Global push for …

G20 Summit: IMF, FSB Propose Crypto Regulation Framework

In what is anticipated to be a significant development during India's tenure as G20 president, participating nations have concurred on the establishment of a global framework for the regulation of cryptocurrency assets, according to sources cited by ANI. Under the stewardship of the Indian G20 presidency, the recommendation for a common framework addressing debt vulnerability issues has also been put …

G20

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister Nirmala Sitharaman has said. Ms. Sitharaman was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at …

Crypto at G20 Summit: India recommends a joint technical paper by IMF & FSB on regulation

India has proposed a joint technical paper by the IMF and the FSB for help in the formulation of a coordinated and comprehensive policy approach to crypto assets. Both the above agencies are expected to present their papers in October this year, i.e., during the 4th G20 Finance Ministers and Central Bank Governors Meet, stated the Ministry of Finance, following …

Moving towards regulation on Cryptocurrency under India\'s G20 presidency: Nirmala

Bengaluru: Union Finance Minister Nirmala Sitharaman on Saturday said that the government is progressing towards regulation on Crypto Currency under India's G20 presidency. "Further, in July, the FSB's paper on crypto assets regulation will be tabled so that it could be discussed at the next meeting of the finance ministers and central bank governors," she said. Speaking on the issue, …

IMF, FSB to flesh out crypto regulation in the wake of India’s push at G20

The International Monetary Fund and the Financial Stability Board are set to formulate a technical paper in a bid to attain a coordinated global approach for the regulation of crypto assets as proposed by the Indian Presidency of the G20. The idea had found backing from U.S. Treasury Secretary Janet Yellen, who also mooted international cooperation to set high regulatory …

India, which is currently holding G20 Presidency, has asked the IMF and Financial Stability Board to jointly prepare a technical paper on crypto assets, which could be used in formulating a coordinated and comprehensive policy to regulate them. In their entirety, the IMF’s discussion paper, the policy seminar and the joint IMF-FSB paper are expected to integrate the policy questions …

Financial firms may need to bolster their defences in the face of rocketing cyberattacks after employees began working from home, the Financial Stability Board said on Tuesday. The FSB, which coordinates financial rules for the G20 group of nations, said remote working since economies went into lockdown to fight COVID-19 opened up new possibilities for cyberttacks. COVID-19 was the first …

International financial body submits roadmap for mitigating climate-related risks to G20

The FSB, created in the wake of the 2008 financial crisis, said global climate-related risks are “far-reaching” and require a coordinated response. A leading international finance body on Wednesday urged G20 finance ministers and central bank chiefs to better respond to growing climate-related financial risks, warning of their “far-reaching” impacts. “The goal is that all financial risk decisions appropriately take …