Indian Finance Minister: Countries need to establish effective mechanisms to control crypto assets and should not implement comprehensive bans

Odaily News India’s Finance Minister Nirmala Sitharaman shared the latest progress in implementing a cryptocurrency regulatory roadmap at yesterday’s G20 Leaders Online Summit. On the timeline for regulatory action in India beyond the roadmap, Sitharaman said it was still early days. Sitharaman said that countries need to establish effective mechanisms to control crypto assets, stressing that not only G20 countries should be involved, but also FSB members around the world. While acknowledging the possibility of countries enacting their own cryptocurrency laws, refrain from imposing a “blanket” ban on cryptocurrency activities. (Cryptonews)