Finance Minister Nirmala Sitharaman has held talks with Financial Stability Board Chair Klass Knot and Vice of the Climate Finance Leadership Initiative (CFLI) Mary Schapiro right here and exchanged views on dimensions of threat in crypto eco-system and improvement of GIFT City, India’s first operational good metropolis. Sitharaman, who arrived in Washington on Monday, met Knot and Schapiro on the sidelines of IMF-World Bank Spring Meetings 2022, in Washington D.C on Tuesday. The finance minister held talks with International Monetary Fund chief Kristalina Georgieva in the course of the Spring Meetings of the IMF and the World Bank right here on Tuesday.
“Finance Minister Smt. @nsitharaman and FSB Chair Mr. @KlaasKnot exchanged views on dimensions of risk in crypto eco-system,” the Ministry of Finance stated in a tweet. Sitharaman on Tuesday made a powerful case for regulating cryprocurrencies at a worldwide stage to mitigate the chance of cash laundering and terror funding.
Participating at a high-level panel dialogue organised by the IMF, the finance minister stated that so long as the non-governmental exercise of the crypto property was by unhosted wallets, the regulation was going to be very tough. However, she stated, cross border funds between nations will change into very efficient by Central Bank-driven digital currencies.
“Union Finance Minister Smt.@nsitharaman met Ms. Mary Schapiro, Vice of the Climate Finance Leadership Initiative (CFLI) and the first woman to serve as @SECGov Chair, in Washington D.C., today. Ms Shapiro discussed the success in India with respect to building a robust renewable energy markets and concurred that it is opportune time for India to play a leadership role in shaping global #ClimateFinance trends,” the ministry stated in one other tweet.
“Finance Minister Smt.@nsitharaman spoke about her vision of developing @GIFTCity_#IFSC as centre for attracting global capital for #sustainable #finance and asked CFLI to work closely,” it stated. Earlier on Monday, in her first public look earlier than the Atlantic Council think-tank, the finance minister informed a choose group of Washington viewers about how the folks along with the Indian authorities efficiently confronted the problem posed by COVID-19 and the following lockdowns. Describing the Indian economic system’s restoration from the COVID-19 pandemic as ‘distinct’ and ‘pronounced’,Sitharaman exuded confidence about India posting sturdy financial development this decade.
Source: www.financialexpress.com”