India will assess the recommendations presented in a paper authored by the International Monetary Fund (IMF) and the Financial Stability Board (FSB), the G20's risk watchdog, regarding the regulation of crypto assets and their integration into digital financial systems. Ajay Seth, the secretary of India's department of economic affairs, revealed this decision on the sidelines of the G20 summit.
Leaders at the summit have endorsed the necessity of regulations, oversight, and supervision for unbacked cryptocurrencies. Seth emphasized that emerging economies, in particular, face higher risks associated with crypto assets. India will base its stance on these recommendations and the G20 leaders' consensus, with a decision expected to be made in the coming months.