G20 countries will discuss crypto-regulatory options

At the end of 2022, Indian authorities appealed to the countries of the « Big Twenty » ( G20 ) with an appeal to intensify cooperation in the regulation of the cryptocurrency market.

As Reuters clarifies, finance ministers and central bank heads will negotiate from February 23 to 25 in Bangalore. Particular attention will be paid to solving problems related to protecting investors and ensuring transparency of transactions with digital currencies.

The head of the Ministry of Finance of India, Nirmal Sitharaman, did not rule out the development of common standards that states legalizing the cryptosphere will focus on.

She told reporters:

We are discussing with all countries whether we will be able to develop some standards that countries that create a regulatory framework will focus on and that it is effective.
The European Union is one of the first to want to implement digital asset market control legislation ( MiCA ).

In October 2022, Brussels introduced the bill for public discussion.

This document is not only intended to introduce licensing of cryptocompany companies, but also to provide effective control over the movement of funds in virtual currencies in order to minimize the risks of their criminal use.