G20 ‘Welcomes’ Financial Stability Board’s Call for Tougher Crypto Rules

<p>The intergovernmental
forum, Group of
Twenty (G20) welcomes the call made by the Financial Stability Board (FSB) for
tougher rules to guide the global cryptocurrency industry, Nirmala Sitharaman, the Finance Minister of India, said during a press conference held today (Tuesday) in India. India retains the current presidency of the G20.</p><p>Where Will G20 Stand on Crypto?</p><p>On Monday,
FSB, whose members comprise the United States, the European Union, China and
the UK, <a href="https://www.financemagnates.com/cryptocurrency/crypto-needs-uniformity-and-rigor-after-2022s-crisis-fsb-reveals/" target="_blank" rel="follow">issued a regulatory
framework</a> to guide
crypto-asset activities in the wake of <a href="https://www.financemagnates.com/cryptocurrency/ftx-to-launch-claims-portal-for-customers-in-the-coming-weeks/" target="_blank" rel="follow">the collapse</a> of the crypto exchange, FTX
and the digital asset lender, <a href="https://www.financemagnates.com/cryptocurrency/celsius-hit-with-multiple-lawsuits-as-founder-alex-mashinksy-is-arrested/" target="_blank" rel="follow">Celsius</a> in 2022. The framework includes enhancements
targeted at ensuring adequate protection of client assets, addressing the risks
associated with conflicts of interest, and strengthening cross-border
cooperations.</p><blockquote><p lang="en" dir="ltr">