Last Updated on 28 August 2023 by Admin
The global outlook of crypto took a new turn yesterday as Indian Prime Minister Narendra Modi spoke about crypto adoption and regulation in his latest interaction. He pointed out the importance of regulations and called for a unified approach.
The Prime Minister emphasized on discouraging single nation focused regulatory approach. Instead pushed for non-geographical boundaries limit stance, ultimately calling for a global consensus-based model.
Key Decision Expected Soon
At present all eyes are on India as it holds the G20 presidency. The crypto topic was discussed and debated through several seminars and conferences. Moreover, the G20 body under India’s leadership is getting closer in proposing a unified regulatory approach.
On the other hand, crypto sector in India has been struggling for quite some time now. With the lack of clear regulation, trading volume has been on the lower side from the past few years. Any positive outcome from the G20 body under India’s presidency will not only impact Indian market but will define the future of the crypto realm across the globe.
The crypto sector has been going through severe turmoil with regulatory enforcement by authorities across the globe, thus affecting both crypto firms and investors. A proper set of international rules will make it easier for crypto firms to comply and will offer investors the much needed assurance.
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