Nirmala Sitharaman: There needs to be global understanding on how to regulate crypto currency

Edited excerpts of Finance Minister Nirmala Sitharaman’s views on the regulation of crypto currency.

Even before G20 and since 2020, we had discussions about it in the Finance Ministry. RBI is also having its own view on it. We are very clear that there should be global understanding on how to regulate crypto.

During G20 under India’s Presidency, we spoke about it. We brought IMF and FSB. Well-written papers were submitted. A lot of discussion took place. I would like to go through the route of global understanding when everybody is on the same page.