G20 Leaders embrace a comprehensive regulatory framework for cryptocurrencies and engage in discussions surrounding CBDCs.
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Around 1,000 foreign delegates will have the privilege of immersing themselves in UPI wallet technology and discovering the seamless payment capabilities it offers. Each delegate will receive a nominal amount, ranging from Rs 500 to Rs 1,000, in their UPI wallets, enabling them to conduct UPI transactions during their stay.
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have jointly released a synthesis paper laying down the foundation for this comprehensive framework. Subsequently, discussions on this vital initiative will be a prominent agenda item during the upcoming leaders’ summit.
CBDC is gaining traction as many central banks around the world are exploring and launching their own digital currencies.
Nilekani’s comments come at a time when India has got a unique opportunity to lead the way in establishing global cryptocurrency regulations with presidency of the G20.
India’s Presidency of the G20 from December 1, 2022 to November 30, 2023 presents a unique opportunity for the country to lead the way in establishing…