Tobias Adrian, Financial Counselor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, commented on crypto regulation, noting that they are working towards a goal of coming up with global standards for the regulation of digital assets. Adrian added that it’s important for India to also adopt it, noting that crypto regulation is “certainly high on the agenda” for the country.

The IMF official also provided his comments on the country’s move of taxing crypto income at a 30% rate without allowing loss offsets or deductions, viewing it as a “welcome move”.