U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry.

Yellen’s remarks came as India’s Finance Minister Nirmala Sitharaman said that India and many G20 members have acknowledged that “anything outside of the central bank is not a currency”, after meetings with member nations.

(By PRADIPTA MUKHERJEE)

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