By Richard Hines
The incoming regime of India as G20 president is expected to see implementation of crypto regulation. This term will last one year, beginning in December.
The G20 Summit Agenda
The Republic of India has stated that crypto regulation is the G20 summit’s top issue, with intentions to make this a reality during their one-year tenure.
The summit’s theme will be one of security, with an emphasis on consensus-based solutions for increasing the global community’s response rate to cross-border concerns such as virtual asset regulation.
This theme, as announced by the Chief Economic Advisor to the Government, symbolizes India’s third G20 presidency goal.
The Group of 20 (G20) is an intergovernmental organization comprising 19 countries and the European Union. The G20 is now led by Indonesia, which will hand over the presidency to India in December. Not only will India be inaugurated as President, but it will also host the G20 Leaders Summit for the first time.
With this president, India, which is known for criticizing virtual asset payments and prohibiting cryptocurrency, will have a broader scope to implement these crypto regulations.
As the host, India is entrusted with preparing conference minutes and developing themes aimed at stimulating economic growth among the countries represented at this gathering.
Nirmala Sitharaman, India’s Finance Minister, announced to the public that cryptocurrency would be the primary focus of this meeting.
Protocols Involved In The Summit
The G20’s financial track includes meetings with finance ministers and central bank governors. A total of forty sessions are planned to examine key issues in the economic and global systems. Financial and commercial fields are examples of key issues.
The Sherpa track is carefully employed in this process. Sherpas are mediators from prominent positions in the heads of state, and are responsible for arranging the summit. Over 100 meetings are scheduled to be prepared and held under their supervision structured around areas of health, finance and economy.
Nageshwaran, who is standing in for the Department of Economic Affairs and is in charge of defining the meeting’s agenda, has emphasized food and hunger as a key issue in the global economy that must be addressed at the G20 summit. This would result in a massive force of leaders ready to confront the world’s economic and global concerns.