Unhosted Crypto Wallets Pose Risk At Global Level, Says Nirmala Sitharaman at IMF

  • Finance Minister Nirmala Sitharaman on Monday raised concerns on the risks of cryptos being exchanged in an unregulated environment and highlighted the importance for global efforts and central bank-driven digital currency.
  • Raising concerns over money laundering in new digital assets, she said India wanted to ensure that crypto transactions would eventually become compliant with anti-money laundering rules, and don’t end up inadvertently funding any kind of terror activities.
  • Highlighting the importance of concerted global efforts, she noted that regulation cannot be brought about by a single country, adding that there were challenges in bringing in a global regulation.