G20: India asks IMF, FSB to draft new technical paper on crypto assets

Debt resolution has been one of the few initiatives where there was broad agreement among nations at the Bengaluru G20 FMCBG meeting

G20 President India on Saturday asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to come up with a joint technical paper on the macroeconomic and regulatory perspectives of crypto assets.

This proposal by the host country came at a panel discussion on the regulation of crypto assets, as part of the G20 meeting of Finance Ministers and Central Bank Governors (FMCBG).

“This would help in the formulation of a co-ordinated and comprehensive policy approach to crypto assets. The international organisations are expected to present their joint paper during the 4th FMCBG meeting in October 2023,” said an official statement.

“The