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 <li>Discussions on Crypto Issues Take Place Between the US and India</li>
 <li>At the 9th India-US Economic and Financial Partnership, U.S. Yellen and Sitharaman addressed cryptocurrency regulation. They emphasised global rules and collaboration.</li>
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<h2 id="header-0">US and India Talk About Crypto Issues</h2>
During the ninth India-US Economic and Financial Partnership meeting, U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed <a href="https://www.coingabbar.com/en/home" rel="noopener noreferrer nofollow">cryptocurrency</a> regulation. They emphasised the significance of global regulatory norms and international cooperation.
On Friday during the ninth meeting of the India-U.S. Economic and Financial Partnership, Indian Union Minister of Finance &amp; Corporate Affairs Nirmala Sitharaman and U.S. Treasury Secretary Janet L. Yellen discussed cryptocurrency regulation.
Both Reserve Bank of India (RBI) Governor Shaktikanta Das and U.S. Federal Reserve Chairman Jerome Powell were present at the meeting, which took place in New Delhi. Yellen was making her first trip to India as the Treasury Secretary.
The United States and India look forward to continued engagement through the long-standing U.S.-India Financial Regulatory Dialogue, a forum for discussing emerging financial sector issues and priority areas, including digital assets, according to a joint statement released by Yellen and Sitharaman at the conclusion of the meeting.
Yellen took part in a roundtable discussion on India-U.S. Business and Economic Opportunities with leading business figures and economists from both nations after the Economic and Financial Partnership meeting.
According to reports, the treasury secretary asked for international cooperation in handling cryptocurrencies. She added, "With regard to cryptocurrencies, there are various pools where we have insufficient market consumer and investor protection issues that need to be addressed:
But in this area, where international cooperation is crucial between public authorities, the private sector, and public stakeholders demand high regulatory standards globally, we had some discussion in our discussions today.
We also need to take action to lower the cost of cross-border payments, according to Yellen. And we're working hard to address the risks and some of the benefits of cryptocurrencies on a global scale through the Financial Stability Board (FSB), the Financial Action Task Force (FATF), the multilateral development banks, the International Monetary Fund (IMF), and bilateral exchanges.
The treasury secretary stated that the Biden administration has placed a "tremendous focus" on cryptocurrency regulation in the United States. In dealing with "at least dealing with issues of illicit funding through cryptocurrency," she stressed that "a good deal of progress" has been done. She acknowledged that there is still work to be done, though.
The finance minister of India has also advocated for global coordination on cryptocurrency regulation. She encouraged the International Monetary Fund (IMF) to take the lead in crypto regulation in September.
A cryptocurrency regulatory framework is still lacking in India. In order to create a tech-driven regulatory framework for digital assets, Sitharaman stated last month that the Indian government would talk about cryptocurrency legislation while it has the G20 chair. According to reports, in order to comply with the FATF, the government intends to resolve its position on the legality of cryptocurrencies by the first quarter of 2019.

US and Indian Finance Ministers Discuss Crypto Regulation

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