Crypto Regulations at G20 Summit – Industry Reactions

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Crypto Regulations at G20 Summit - Industry Reactions
Crypto Regulations at G20 Summit - Industry Reactions

Shivam Thakral, CEO of BuyUcoin-India’s second-longest-running digital asset exchange

Om Malviya, President, Tezos India, a leading blockchain adoption entity

Manhar Garegrat, Country Head for India & Global Partnerships at Liminal, a regulated wallet infrastructure and custody solutions platform

Denis Sklyarov, Co-Founder and CEO of WiFi Map, a crypto centric DeWi app

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Shivam Thakral, CEO of Buycoin, India’s second-longest-running digital asset exchange, said, “This can be an astounding achievement for every crypto vibrant ecosystem on a global scale. India’s presidency at the G20 can bring together a worldwide effort to regulate and harness deep tech to its full potential. The recent acknowledgement of the much-needed regulatory framework for AI and crypto will instill confidence among the Indian masses that have already adopted some forms of AI or Web3 in their lives, while the industry has set its eye on the upcoming G20 meetings for more clarity.”

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Om Malviya, President at Tezos India, a blockchain adoption entity, said, “Global coordination of crypto regulations is imperative in today’s interconnected world. The crypto space is evolving rapidly, and as it does, it becomes increasingly important for countries to collaborate and establish a uniform, crypto-friendly policy framework. A discussion on crypto policy within the G20 summit would be a significant step forward. It can pave the way for a more coherent and balanced approach that fosters innovation while safeguarding against risks. By harmonising regulations and promoting responsible crypto adoption, we can harness the full potential of blockchain technology, ensuring it benefits individuals, businesses, and economies worldwide. It’s time for nations to come together and shape the future of crypto in a way that’s both progressive and secure.”

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Manhar Garegrat, Country Head for India and Global Partnership at Liminal, a wallet infrastructure and custody solutions platform, said, “It’s great to see consensus from global leaders on the fact that crypto is a global digital asset followed by calls from leading economic officials for global coordination of crypto regulations. The rapid growth of the digital asset industry has created new challenges for regulators, and it is important that they work together with the industry to develop a comprehensive and consistent regulatory framework. With a global regulatory framework in place, we can expect to better tackle challenges such as money laundering, terrorist financing, and market manipulation. We have already seen glimpses of this positive impact with the Travel Rule framework created by the FATF and supported by exchanges, custodians, and other virtual asset service providers (VASPs). At Liminal, we are confident that we will be able to develop a comprehensive and consistent regulatory framework that addresses the risks associated with digital assets while also supporting innovation and economic growth. We look forward to working with regulators around the world to achieve this goal.”

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Denis Sklyarov, Co-Founder and CEO of WiFi Map, a crypto-centric DeWi app: “At the G20 summit, a global force to be reckoned with, there exists a remarkable opportunity to rally nations towards governing and unleashing the immense potential of deep tech. Cryptocurrency, epitomising disruptive innovation, is emblematic of our evolving technological landscape. With the G20’s collective wisdom, we can responsibly integrate AI and cryptocurrencies into our societies. Let’s seize this moment to craft a harmonious future where technology elevates humanity rather than subdues it. Together, we can forge a world where innovation serves us all.”

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