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Crypto requires immediate attention- says FM Nirmala Sitharaman.

Issues related to crypto have emerged as a major point of discussion among G20 countries, and there is unanimity among member nations about the urgency of regulating this sector. The brainstorming session, titled “Macro financial Implications of Crypto Assets,” took place at the International Monetary Fund’s (IMF) headquarters on Friday and was attended by global experts. 

Reports suggest that the ministers acknowledged the work the IMF and FSB (Financial Security Board) had done in bringing out key elements of policy and regulatory frameworks related to crypto assets. She also noted that there is consensus among the G20 members to frame a well-coordinated global policy to oversee crypto assets. However, this must include a full range of risks in the emerging market. The minister reportedly said, 

“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.”

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