Indian Finance Minister Nirmala Sitharaman emphasized the need for global consensus on cryptocurrency regulation in an interview with Businessline on Monday. Sitharaman emphasized the importance of international cooperation, especially within the Group of Twenty (G20), to address the challenges of cryptocurrency regulation.

Last week, the Securities and Exchange Board of India (SEBI) provided recommendations on the regulation of cryptocurrency assets to a government group, advocating for different regulatory agencies to oversee various aspects of cryptocurrency trading. At the same time, the Reserve Bank of India also submitted its views on cryptocurrency. The central bank expressed its concerns, highlighting macroeconomic risks associated with cryptocurrencies and stressing issues related to tax evasion and financial stability.