Binance CEO CZ welcomed India’s move to have a common regulatory framework for crypto regulation among the G20 nations. He said having any regulatory framework is better than not having any clarity. The country’s administration, which currently holds the G20 presidency, is actively in discussion with the member countries about regulating the web 3.0 space.

India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. (Bitcoin.com)

Nirmala Sitharaman, finance minister of current G20 president India, said the group of major economies is exploring whether it can coordinate on crypto regulation."We are talking with all nations, if we can make some standard operating procedure which is followed by everyone to make a regulatory framework, and if it can be effective," Sitharaman added.

Member countries of the Group of 20 (G20) have revealed a plan to build a cryptocurrency policy consensus that will likely inform the global digital assets sector regulation.