How can G20 and other International forums serve as platforms to foster cooperation in the crypto sector?
cooperation in the crypto sector.
Why Did India Call Out for Global Framework?
Cryptocurrencies, as global assets transcending the jurisdiction of any single government or nation, have prompted India, in its current G20 Summit presidency, to advocate for global collaboration among participating countries. India's call for a global framework on cryptocurrencies at the G20 Summit aligns with its recognition of the transformative potential and risks associated with digital currencies. By advocating for international cooperation and regulation, India aims to address these challenges collectively while fostering responsible innovation and safeguarding its interests in the evolving crypto landscape.
Being a fast maturing sector in its foundational building time, the crypto industry is currently grappling with a lack of consistent regulatory frameworks worldwide. Different countries have adopted varying approaches, ranging from outright bans to embracing cryptocurrencies as legitimate financial assets. This regulatory divergence creates uncertainty for investors and hampers the growth of the industry.
How can International Forums Play a Role?
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View Details»International forums like the G20 can serve as platforms for fostering cooperation in the crypto sector in several ways:
Standardization: One of the primary roles of international forums is to establish common standards and principles. The G20 can lead efforts to create a
