G20 Marrakesh meeting to discuss crypto, MDB reforms this week

The G20 finance ministers and central bank governors meetings in Marrakesh later this week is expected to unveil the roadmap for regulating crypto assets and reforming multilateral development banks (MDBs).

- Rhik Kundu

In September, G20 leaders meeting in New Delhi endorsed recommendations by global risk watchdog the Financial Stability Board (FSB) on regulating, supervising and overseeing crypto-asset activities and integrating digital assets into the financial systems.

India has evaluated the recommendations made by the FSB and the International Monetary Fund (IMF) and analyzed its own position with reference to what the leaders have agreed, a senior government official said.

“We understand that emerging market economies like India face higher risk, as mentioned in the FSB synthesis paper," said a senior government official, under the condition of anonymity.

“India will put forward its position keeping its interests in mind," the person said.