“Today  are the  first  days.  We  have  flag points, which are  larger  templates, so we can provide a  template  for  countries  to decide  what  their  legal frameworks  and other  things should be.  So  , it’s too early and  will  probably become a little more clear in  the early  stages  of  the  Brazilian  presidency,”  she said. 

  Finance Minister Nirmala Sitharaman said on Wednesday that the  International Monetary Fund (IMF), Financial Stability Board (FSB) and  Financial Action Task Force (FATF) will  update  G20 member  countries  and other countries  on  the progress  of  implementing  the G20  Cryptoassets Roadmap. He  said  it would be updated regularly.  Speaking after the virtual G20  summit  before the end of  India’s  G20 Presidency, Sitharaman said there  was  no  timetable  yet for countries to implement the  roadmap,  but  there would be more clarity in  the early  stages  of  Brazil’s  next  Presidency.

  “The G20 has formally adopted the  (Cryptoassets) Roadmap. However,  the Indian  Presidency will  also  collaborate  with the Brazilian  Presidency.  The IMF,  FSB  and  FATF will  regularly update  the progress and implementation of the G20  Cryptoassets Roadmap. “We need to inform the G20 accordingly,”  she said. 

 During  the  summit discussion, he stressed  the  need to liaise with the FSB, G20 and other countries to ensure effective mechanisms in each country,  not  only  G20  countries  but  also  other countries, especially FSB  member states. He said there is. She said each country plans to establish one to ensure “no gaps in the management of crypto assets.” 

“Today are the first days. We have flag points, which are larger templates, so we can provide a template for countries to decide what their legal frameworks and other things should be. So , it’s too early and  will  probably become a little more clear  in  the early stages  of the  Brazilian  presidency,”  she said. 

  In September,  at the request of India’s G20 Presidency,  the IMF and  FSB released a policy  paper opposing a complete  ban on  crypto assets.  Instead, it  was proposed to introduce  a licensing  system that would impose  anti-money laundering and  anti-terrorist  financing  standards on crypto asset platforms. 

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