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These organisations are expected to present their joint paper during the fourth G20 Finance Ministers and Central Bank Governors Meet, scheduled next October. This would help in the formulation of a coordinated and comprehensive policy approach to crypto assets, at a time when many countries including India did not have a regulatory framework for crypto assets.",
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Manoranjan Mishra, a chief general manager at the department of non-banking regulation at RBI, said there is a growing interest in the asset reconstruction companies (ARCs) and the central bank has received several applications for setting up new ARCs. “For ARCs, sponsors have to be ‘fit and proper’. The criterion for fit and proper is something that we are working on and we’ll come out with some regulations around it. It will be more formalization of what we already have,” Mishra said at an NBCF meet organized by industry lobby IMC.",
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The finance ministers of the G20 nations on Thursday called for swift and coordinated implementation of the G20 roadmap to deal with the issues related to the crypto assets."
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