Finance Minister Nirmala Sitharaman has asserted the need for urgent attention to be given to issues related to crypto assets during a brainstorming session with G20 finance ministers and central bank governors.
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The minister acknowledged the work of the IMF and the Financial Stability Board (FSB) in bringing out key elements of policy and regulatory frameworks related to crypto assets.
She stressed the need for a globally coordinated policy response on crypto assets that considers the full range of risks, including those specific to emerging markets and developing economies.
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Sitharaman also called for a synthesis paper that integrates macroeconomic and regulatory perspectives of crypto assets.
The G20 countries expressed unanimity on the urgency to regulate this sector, which has emerged as a significant point of discussion among member nations.
Climate change is hitting us: Sitharaman
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During a panel discussion on behavioral change and climate change, Sitharaman stated that climate change is impacting everyday life from multiple angles.
The Union Finance Minister on being asked how India implements the LiFE agenda, said, through “repeated persuasion, repeated speaking about and speaking about issues which you think are commonplace, but repeated speaking by people who hold positions, by people who are responsible, by people who can really catch eyeballs.”
“That’s where and that is why I think most advertising campaigns for very mundane things catch hold of top icons to support the idea,” Sitharaman said.
Launched by Prime Minister Narendra Modi, LiFE aims to combat environmental degradation and climate change by promoting sustainable practices both in India and internationally. Sitharaman also mentioned the significance of using icons in advertising campaigns to garner attention and support for the cause.
