International control of cryptocurrencies can reach a new level

Representative of India Ajay Seth called on the G20 countries to build cooperation between each other in order to improve the control of digital assets. According to Ajay, such innovations are required due to the emerging large influence of cryptocurrencies on the global economy.

According to the representative of India, the sphere of cryptocurrencies should be made as transparent as possible, and the security of market participants should not be in doubt. The year 2022 has shown that every investor who invests in digital assets can be exposed to great risks and practically be left without all their investments.

Ajay Seth addressed the G20 countries with such an appeal as part of a two-day summit and said that the Indian government sees the need to improve interactions in order to control the crypto market. The statements of the G20 chairman from India were fully in line with the meeting, as the summit was convened to discuss the further actions of central banks and the overall development of financial technologies.

Ajay said that the countries should come to a common agreement and adopt a certain concept:

Regulation should be based on a concept accepted by all. One of the priorities is to help countries reach consensus on a policy approach to digital assets.

Representatives of the International Monetary Fund immediately agreed with his words. According to Geeta Gopinath, head of the IMF, a decent level of cryptocurrency regulation can only be achieved through cooperation between states and global financial institutions.