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 <h2 id="india-s-take-on-global-crypto-regulations">India’s Take On Global Crypto Regulations</h2> 
 <p>The G20’s actions offer valuable input for the &nbsp;International Monetary Fund (IMF)-Financial Stability Board (FSB) Synthesis Paper, expected to be published at the end of August. This significant paper aims to encapsulate a comprehensive understanding of financial system risks, including macro-financial, financial stability, and financial integrity risks. The Paper will champion a coordinated and comprehensive policy and regulatory framework for crypto-assets, setting global minimum standards for jurisdictions worldwide.</p>  
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 <p>Considerable groundwork on regulatory standards for crypto-assets has already been laid by the G20, with expert reports and standards developed by International Organizations (IOs) and Standard Setting Bodies (SSBs) addressing crucial aspects of crypto-assets.</p> 
 <p>The FSB and the Financial Action Task Force (FATF) have issued comprehensive recommendations to mitigate risks associated with crypto assets, including financial stability and money laundering. The shared work plan for 2023 by the FSB and SSBs aims to create a globally coherent regulatory framework while focusing on public reporting and risk monitoring.</p> 
 <p>Additional action items include reaching out to all jurisdictions to raise awareness of the risks, beginning with those where the adoption of cryptocurrency assets has been highest, involving non-G20 members, and giving the IMF and FSB authority to oversee the work around global <a rel="noopener noreferrer nofollow" title="crypto regulations" href="https://thebittimes.com/tag/crypto-regulations.html">crypto regulations</a>.</p>  
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 <p>Also Read: Bitcoin Price Bullish Case At $30k: An Opportunity or Bull Trap?</p> 
 <h2 id="the-need-for-global-crypto-policy">The Need For Global Crypto Policy</h2> 
 <p>The paper suggests a&nbsp;new age in the global regulation of crypto assets will be marked by the IMF, FSB, and FATF facilitating coordination of work in the crypto sector and ensuring that there are no gaps or duplications.</p> 
 <p>Ajay Seth, a senior official of the <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a>n Finance Ministry, first revealed the existence of such a memo before the Finance Ministers and Central Bank Governors (FMCBG) conference in <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a> last month.</p> 
 <p>Also Read: Is Crypto Banned In China? Binance Users Traded $90 Billion In Crypto</p> 
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IMF & FSB Team Up For Crypto Future Under India's G20 Presidency

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