‘G20 countries will start share Information under Crypto Asset Reporting Framework by 2027’: Finance Minister

Finance Minister confirmed that they formed a CARF group in September to establish this process.
For representational purposes
For representational purposes

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said G20 countries will start sharing information under Crypto Asset Reporting Framework (CARF) by 2027. She further said to establish this process, a CARF group has been formed in September 2023. Addressing the G20 Presidency 4th Finance Minister and Central Bank Governor’s press briefing in Marrakech, Morocco, Sitharaman said the G20 road map on crypto asset regulation has been accepted during the meeting, and that the meeting decided to make swift execution of the road map.

“In the next Presidency (in Brazil), the focus will be on three main issues --monitoring the implementation of regulatory activities, cross border information sharing, and looking to take the road map beyond G20 countries,” FM said responding to a question.

She told media a panel discussion of eminent persons working for strengthening Multilateral Development Banks (MDBs) and the G20 Ministers was held to deliberate on the progress made by the G20 on the agenda, and discuss proposals of the independent expert group.

When asked if the Israel-Palestine conflict will derail the India-Middle East- European Economic Corridor (IMEC), she said IMEC is an India initiative, it is a long-term initiative, and though short-term glitches are a concern, it will keep engaging with the stakeholders.

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