G20 to Create Reporting System for Crypto Firms

At the Group of Twenty (G20) meeting, members, including India, discussed the potential for regulating cryptocurrencies at the global level.

The Indian government hosted a summit where participants agreed on the imperative need for a comprehensive, unified, and effective framework for the industry.

This statement was issued by the summit participants, along with a call for the construction of a Crypto Asset Reporting Framework (CARF), one that would enable appropriate taxation of the sector, while also making the market more secure and transparent.