The news came in today on e-reader recommended list. The Indian finance minister Sitaraman is on US visit for official meeting of International Monetary Fund and World Bank. These are just every years spring meetings followed by her visit to G20 Summit as well.
She spoke regarding her agenda and one of which is to overcome the issues of money laundering which is being done using crypto currencies. The vision is clear, create Intenrational framework and if it is digital then all the countries has to work together on technical platform itself.
Her tone does not seem to be aggressive but positive in regard with usage of crypto and that’s why she said just to keep track of buyer and sellers, India imposed 30% tax on the same.
India has pitched for a global framework to regulate crypto currencies identifying their use in money laundering and terror financing as the biggest risks for all countries.
"I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror," finance minister Nirmala Sitharaman said at a discussion on “Money at a Crossroad” hosted by the International Monetary Fund (IMF) in Washington DC.
The minister added that no country could handle these alone and they can be only regulated when countries come on board together.
She added that India had introduced a 30% tax on Cryptocurrency to keep a track on who was transacting in these assets.
"How can we keep a trail following these transactions which were happening. After all these were electronic codes eventuallyq. So we wanted to be sure. So through that (30% tax)we will be able to know who's buying and who is selling it," Sitharaman said.
Sitharaman is on an official visit to the US, to attend the spring meetings of the International Monetary Fund and the World Bank.
Sitharaman will also attend the G20 finance ministers’ and central bank governors’ meeting there and will meet World Bank President, David Malpass.
Sitharaman is also scheduled to meet business leaders in San Francisco and will also interact with the faculty and students at Stanford University.
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Economic times - Sitaraman US Visit I am not sure how effective the discussion went or if anyone is even thinking about this, but could be a good pitch ahead in terms of development.
