The head of the US Treasury Department said that it is very important to regulate cryptocurrencies, but Washington is not considering a complete ban on the crypto industry.
"We are not proposing a complete ban on crypto activities, but it is very important to create a strong regulatory framework … We are working with other governments,"Janet Yellen said in an interview with Reuters.
Cryptocurrency regulation was one of the topics finance ministers and central bankers discussed at the Indian-led G20 meeting over the weekend.
Earlier in February, the Indian Finance Minister, at a meeting with the Board of Governors of the Reserve Bank of India, announced that regulatory measures for cryptocurrencies could be fixed at the level of G20 member countries.
Nirmala Sitharaman is sure that cryptocurrencies rely heavily on technology and much less on human intervention. This initiative was later supported by the International Monetary Fund and the US Treasury.
IMF Managing Director Kristalina Georgieva recently stated that the organization is in favor of adequate regulation of digital assets and is against a complete ban on cryptocurrencies.
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