US Treasury Secretary Janet Yellen on Friday said there is a need for a high regulatory standard globally to deal with risks related to cryptocurrencies.
The United States has made a good deal of progress at least in dealing with the issues of illicit finance in connection with cryptocurrencies, she said here.
She was participating in a roundtable interaction on India-US Business & Economic Opportunities with top business leaders and eminent economists from both the countries.
“We need a high regulatory standard globally, we need to take steps to reduce the cost of cross-border payments and we are very actively working in the context of financial stability with Financial Action Task Force and multilateral banks like IMF to really address on global basis the risks and some of the benefits from cryptocurrencies,” she said.
International collaboration is really important among public authorities, private sector and other stakeholders, she added
Finance Minister Nirmala Sitharaman has
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