A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official.
Tobias Adrian, Financial Counselor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, discussed India’s crypto regulation in an interview with PTI Tuesday at the annual spring meeting of the IMF and the World Bank.
Adrian said that for India:
Regulating crypto assets is certainly high on the agenda.
“That is something that is done globally,” he stressed. “Within the Financial Stability Board, we are trying to come up with global standards for crypto asset regulations. I think that’s important for India to also adopt.”
The IMF director then commented on the taxation of crypto transactions in India. “Of course, I know that India has changed the taxation of crypto assets and that’s a welcome move.”
The IMF is looking at India in “a very positive fashion” overall, Adrian noted. He was quoted as saying: “I think there are many opportunities and growth (in India is coming back). There’s a recovery. There’s a lot of excitement around new growth opportunities, new developments … We always value that growth is inclusive, and is touching all of the people. But our general outlook in India is a fairly positive one.”
Commenting on India exploring a central bank digital currency, the IMF director stated:
That could be quite important for financial inclusion and financial development, and we are watching very closely what India is doing. We welcome those policy developments as well.
What do you think about the IMF official’s comments and the Indian government’s approach to crypto? Let us know in the comments section below.
