• India has handed over the presidency of the G20 nations to Brazil, marking the end of India's one-year tenure.
• During India's presidency, significant progress was made in formulating laws to govern the crypto sector on an international level.
• Brazil will take the lead in providing further clarity on the implementation of the G20 crypto roadmap.

India's G20 presidency has culminated in the adoption of a comprehensive crypto roadmap, paving the way for coordinated international regulation of the crypto sector. Under India's leadership, the G20 worked closely with global financial institutions to develop a framework for G20 countries to implement customized crypto regulations based on shared principles.

The G20 crypto roadmap emphasizes the need for supervision and oversight of global stablecoin arrangements (GSCs), which are digital currencies pegged to a traditional fiat currency or other assets. The roadmap also supports responsible fintech innovation, recognizing the potential benefits of crypto technology while addressing associated risks.

As the G20 presidency transitions to Brazil, the focus will shift to providing further clarity on the implementation of the crypto roadmap. Brazil will play a crucial role in ensuring that G20 countries effectively translate the roadmap into concrete regulatory measures.

The FSB, IMF, and FATF shall monitor in a couple of days how the G20 countries perform the plan and whether it does not allow some loopholes for cheaters. The G20 crypto road map, which was jointly generated with the support of IMF and FSB, recognizes that the regulatory landscape is highly dynamic and specific to individual jurisdictions. This is an attempt to create a balance between encouraging innovation and protecting financial stability.

In October, when the G20 nations officially adopted the crypto roadmap, they recognized its importance in achieving shared goals of macroeconomic and financial stability. The roadmap is seen as a crucial step towards ensuring effective, flexible, and coordinated implementation of a comprehensive policy framework for crypto assets