Crypto Assets Pose Threat To Financial Ecosystem, Says FM

AHEAD OF THE 18th G20 Summit here, finance minister Nirmala Sitharaman on Tuesday clubbed crypto assets with drug trade and global tax evasion, and said these posed a threat to the global financial ecosystem.

- MUKESH JAGOTA

"Crypto is as (much a) threat as an opportunity, and unless there is a global cooperation, we would not be able to have a responsible financial ecosystem and regulate it well," the minister said in her address at the Global Fintech Fest here.

According to the minister, India's G-20 presidency has put on the table issues related to regulating crypto assets and would strive to work out a framework to deal with the relevant issues.

"Active discussions are happening and rich content papers from institutions like International Monetary Fund, Financial Stability Board and OECD on crypto are being discussed," she said. These papers are expected to be published shortly.