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FM Nirmala Sitharaman Sends Message to IMF! Crypto Assets Need Globally Coordinated Regulations

Our beloved Finance Minister, Nirmala Sitharaman, had a blast of a time discussing all things crypto with the head honcho of the International Monetary Fund (IMF), Kristalina Georgieva! In this virtual powwow, Nirmala urged the IMF to take on the world of crypto with a coordinated approach to regulation. But that’s not all, the Finance Minister also gave a shoutout to IMF for their unwavering support in various G20 work streams under the G20 FinanceTrack.

And what did the IMF boss have to say? Well, Ms. Georgieva was all praises for India’s strong economic performance, despite the challenges the world is facing, and for being a trailblazer in the digital economy, especially with their digital payments revolution!

So, as we gear up for the upcoming G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Bengaluru, we can’t help but feel excited about what’s in store for the future of crypto regulation.


What Does IMF Have To Say About This?

It was a day of appreciation and recognition as the IMF Managing Director, Kristalina Georgieva, gave a virtual round of applause to India for their generous contribution of $50 million to SARTTAC in Delhi, a partnership between the IMF and India. Georgieva exclaimed, that this will only make India and the IMF stronger in their mission to empower the South Asia region!

During their video conference, our Finance Minister, Nirmala Sitharaman, stressed the importance of food and energy security for all and asked the IMF for their support in developing evidence-based policy guidance. Nirmala also informed Georgieva that debt issues will take center stage at the upcoming G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, and India will be there every step of the way to support the implementation of the Common Framework.

But that’s not all! The two leaders also discussed key deliverables, such as the timely completion of the 16th General Review of Quota (GRQ), which will help strengthen the Global Financial Safety Net. With both leaders in agreement, it’s time to sit back and watch the magic unfold!