India's Push To Regulate Cryptocurrency Gets US, IMF Support At G20
NDTV
India has said it wants a collective global effort to deal with problems posed by cryptocurrencies such as bitcoin, and the finance ministry said it had held a seminar for G20 member states to discuss how to come up with a common framework.
A push by Group of 20 (G20) president India to regulate cryptocurrencies gained support from both the International Monetary Fund and the United States on Saturday as finance chiefs of the bloc wrap up two-days of talks.
India has said it wants a collective global effort to deal with problems posed by cryptocurrencies such as bitcoin, and the finance ministry said it had held a seminar for G20 member states to discuss how to come up with a common framework.
Speaking to Reuters on the sidelines of the G20 meeting in Bengaluru, U.S. Treasury Secretary Janet Yellen said it was "critical" to put in place a strong regulatory framework but added that the United States had not suggested any outright bans.
"We haven't suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework," Yellen said. "We're working with other governments."
