Finance Minister emphasizes need for global consensus to effectively regulate cryptocurrencies

In a recent interaction with the Thinkers Forum in Karnataka, the Finance Minister highlighted the pressing need for a global consensus in regulating digital or crypto currency. With the growing popularity and use of cryptocurrencies, the Finance Minister stressed on the importance of creating an effective regulatory framework that ensures transparency, security, and stability in the crypto market.

The Finance Minister acknowledged that the decentralized nature of cryptocurrencies poses a challenge for regulatory authorities. However, he underscored the need for a coordinated global effort to address this issue and prevent cryptocurrencies from being used for illegal activities such as money laundering and financing terrorism.

The Finance Minister’s call for a global consensus on crypto regulation comes at a time when several countries are grappling with the issue of how to effectively regulate cryptocurrencies. With the rise of new cryptocurrencies and the increasing number of investors entering the market, the need for a unified approach to regulation is becoming more urgent.

In light of this, the Finance Minister’s emphasis on the need for global consensus is not only timely but also crucial for ensuring a stable and secure crypto market. The Finance Minister’s remarks are likely to spark further discussions and debates on the regulation of cryptocurrencies and their role in the global economy.

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