India talking with G20 nations to build norms for regulating crypto mining: Finance Minister

Finance Minister Nirmala Sitharaman told Parliament that India has taken on board the G20 member nations to formulate a standard operating protocol to regulate crypto mining.

Replying to a question on crypto mining regulation in the Lok Sabha during Question Hour, she said that under its G20 presidency, India is “raising this issue and having detailed discussion with the members so that a standard operating protocol emerges after the discussions in the G20 so that there is a coherent, and comprehensive approach in bringing some regulation into this whether it is mining or whether it is transacting”.

Sitharaman also said that crypto is largely unregulated in India, whether it is mining or whether it is an asset or whether it is a transaction.