India’s Prime Minister Narendra Modi participated in discussions on crypto assets at the G20 leaders’ summit in Osaka, Japan. At the conclusion of the summit, the leaders of the G20 countries jointly declared their commitment to applying the crypto standards set by the Financial Action Task Force. India’s new finance minister, Nirmala Sitharaman, also joined other G20 finance ministers to declare the same commitment.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Modi Participated in Crypto Discussions at G20 Summit
India’s sherpa to the G20, Suresh Prabhu, detailed this week various discussions Modi participated in at the two-day G20 leaders’ summit which took place on June 28 and 29 in Osaka, Japan. India will be the host country for the G20 summit in 2022.
“As you know India was looking forward to G20 for many perspectives,” Prabhu began. “Prime Minister Narendra Modi who led India’s delegation raised many issues of global concern as well as highlighted the role of India’s new innovation into making change in a manner that benefits all.”
According to Prabhu, the topic of implementing crypto standards was discussed by the G20 leaders at the summit. “In economy, finance will be an important issue. Therefore issues related to global finance … whether it is related to technological innovation which can deliver benefits in financial markets or whether it is related to the commitment in applying recently amended FATF [Financial Action Task Force] standards for virtual assets, all these issues were also discussed,” he confirmed.
G20 Leaders and Finance Ministers Separately Committed to FATF Standards
At the conclusion of the summit, the leaders of the G20 nations, including India, jointly issued a
