New Delhi, The dark and uncertain, but inevitable world of cryptocurrency has been a prominent issue in the Finance Ministry's year-long discussions on the G-20 summit agenda. And now in a major victory, India has managed to convince the member countries participating in the G20 summit that cryptocurrency should be included in the agenda of this summit. After India's solid arguments and despite the initial hesitation of some countries, most of the countries have agreed to discuss it.

It was argued that cryptocurrency is an indispensable option for many people and has gained popularity. However, the vast world of the Internet allows free and uninterrupted use of cryptocurrencies. There have been reports of its misuse and even involvement in criminal activities and terrorist acts. India is working on a crypto regulation law and has suggested monitoring through the Reserve Bank of India (RBI) and a similar regulatory mechanism.

PM Modi had raised the same issue in August as well.

At the B20 summit in August, Prime Minister Narendra Modi had said that there is a challenge related to cryptocurrencies. The most integrated approach is needed in this matter. There is a need to create a global framework in which the interests of all stakeholders are taken into account.' While trading in cryptocurrencies is allowed, the Indian government has imposed a 30% tax on it. However, it is not legal tender and cannot be used for banking purposes.

Everyone needs to be ready to monitor cryptocurrencies

Sources say that India does not need to depend on the agreement of G-20 countries to make crypto law, but it has insisted on keeping it on the agenda. India has said: “There cannot be only one country which will handle the crypto issue. This has huge global macroeconomic implications, so we all need to be on guard to monitor it.”

Hoping for a consensus on crypto

India has stressed and convinced the G20 countries on the need for a common template for crypto. There is every possibility that by the end of the summit in New Delhi, a consensus will be reached on crypto because no country can afford to risk its security.