During the Joint Conference in Lok Sabha their was a topic included, about approaching Crypto assets on Saturday i.e. 11th February 2023. Where union minister of state for finance Pankaj Choudhary said in written that “the government is engaging with G20 countries to build international coordination on policy approach to crypto assets”. As this will help in building the international relationship which further might sounds worthy and also helps in international collaboration. Which released up via PIB (press Information Bureau) on Monday i.e. 13th February 2023
Earlier, on a query posed over crypto mining in Lok Sabha, Union Finance Minister Nirmala Sitharaman on Monday said under India’s Presidency, G20 members are working together to bring a collective standard operating procedure on it.
While replying to a query from DMK MP T Sumathy, the Finance Minister said, “At the moment, they (cryptocurrencies) are largely unregulated in India; whether it is mining or the asset or whether it is the transaction, we recognize that it is completely driven by technology and a standalone country’s effort to control and regulate is not going to be effective.”
Now the raise of queries came by the Member of Parliament,
How the government was planning to regulate Crypto Mining in India?
Sitharaman also added, “There is an evolving consensus and that’s why we are raising this issue in the G20 and having a detailed discussion over the issue so that a standard operating procedure emerges after the discussions in the G20, and so that there is a coherent, comprehensive and all-country-working-together kind of approach in bringing some regulations, whether it is mining or transacting and all these would have been looked into.