India to Decide Stance on Crypto Regulation Soon Based on IMF and G20 Recommendations

India will decide its position on crypto regulation in coming months based on IMF & FSB recommendations
Ajay Seth said India will analyze its stance based on G20 leader agreement on crypto oversight
Seth said emerging economies face higher crypto risks; IMF & FSB call blanket ban difficult
RBI had earlier called for complete cryptocurrency ban; way forward after Oct G20 meeting
Seth said global growth facing challenges from high inflation and slowing trade

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Relevant topic timeline:

9/7/2023

IMF, FSB release joint policy recommendations for crypto assets at request of G20

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a joint policy paper with recommendations for regulating stablecoins and decentralized finance (DeFi) activities, in response to the risks associated with crypto assets.

9/11/2023

India Developing Crypto Regulations Within 6 Months Based on IMF-FSB Framework

Indian crypto platforms may attain the status of authorized dealers, similar to banks, under the regulatory framework being developed by the Indian central bank, RBI, based on joint recommendations from the IMF and FSB, potentially resulting in legal legislation within the next five to six months.

9/26/2023

Taiwan Introduces New Cryptocurrency Regulations, Requiring Registration for Exchanges

Taiwan's Financial Supervisory Commission (FSC) has issued new rules and guidelines to protect cryptocurrency investors, including separating exchange treasury assets from customer assets and requiring foreign virtual asset service providers to obtain necessary approvals to operate in the country.

10/2/2023

IMF Proposes Crypto Risk Assessment Framework, Flags Concerns Over El Salvador's Bitcoin Adoption

The International Monetary Fund (IMF) has published a working paper proposing a crypto-risk assessment matrix (C-RAM) to identify potential risks and policy responses in the crypto sector, with examples including the risks associated with El Salvador's adoption of Bitcoin as legal tender.

10/3/2023

Pakistan Braces for Austerity as IMF Team Arrives to Review Bailout Program

The International Monetary Fund (IMF) will review Pakistan's economic performance and discuss reforms, with the country set to receive a $700 million installment after completion.

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Posted 9/10/2023, 6:12:04 PM