• Union Finance Minister Nirmala Sitharaman of India has commented that crypto regulation is a priority for G20 countries and must be a group effort.
• FTX’s collapse has raised concerns about the safety of other crypto companies, as it had very weak accounting procedures.
• There are both advantages and disadvantages to global crypto regulation, but it may take a long time to develop laws that foster responsible growth and innovation.

Crypto Regulation Becomes A Major Priority For G20 Countries

Union Finance Minister Nirmala Sitharaman of India commented that crypto regulation has become a major priority for several finance ministers and central bank governors of G20 countries. She commented that during this year’s summit, crypto regulation is likely to be a hot topic that many of them will discuss. Sitharaman also commented that crypto regulation will likely have to be a group effort due to technology having no borders.

The Collapse Of FTX Raises Concerns

Crypto regulation has become an increasingly important subject ever since the collapse of the now defunct crypto exchange FTX. There are many people out there that have become increasingly worried about what happened and claim that if such a fall could occur with FTX, then virtually no crypto company is safe. One of the big issues with FTX was the idea that it had very weak accounting procedures which allowed its former head executive Sam Bankman-Fried to use customer funds in unethical ways. He is currently awaiting trial at his parents‘ home after being charged with fraud.

The Pros And Cons Of Global Crypto Regulation

The problem with global crypto regulation is that it goes against all cryptocurrency stands for and thus allows middlemen into the mix. On one hand, many feel as though stricter regulations could help prevent fraudulent activities from occurring but on the other hand, regulations can also stifle innovation within the space as projects may not be able to meet these high standards or afford them in general. Despite this however, Rajagopal Menon – VP of Wazir X – believes global collaboration is key in order for laws to foster responsible growth and innovation .

It May Take A Long Time To Develop Laws

Edul Patel – co-founder and CEO of Mudrex – agrees with Menon’s statement on international collaboration being necessary but mentioned it may take some time before laws are developed due to how complex they may end up being in order to accommodate all nations involved in creating them. As such, only time will tell if we’ll actually see any real progress made when it comes down to global regulations surrounding cryptocurrency or not .


Overall, while there are pros and cons when it comes down towards regulating cryptocurrency globally or not , Union Finance Minister Nirmala Sitharaman’s comments speak volumes about how seriously everyone involved takes this issue at hand . It remains unclear whether or not any real progress can be made towards developing international regulations anytime soon but here’s hoping something gets done soon enough .