Regulating Crypto Assets Among Top Mid-Term Issues For India: IMF Official

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Overall, the IMF is looking at India in "a very positive fashion," the official said.

Regulating crypto assets along with digital currency, addressing the remaining regulatory concerns in the banking sector and integrating with the global economy are among the few mid-term structural issues for India, a top official from the International Monetary Fund has said.

Overall, the IMF is looking at India in “a very positive fashion,” Tobias Adrian, Financial Counselor and Director of the Monetary and Capital Markets Department told PTI on Tuesday.

"I think there are many opportunities and growth (in India is coming back). There's a recovery. There's a lot of excitement around new growth opportunities, new developments,” he said on the sidelines of the annual spring meeting of the IMF and the World Bank.

"We always value that growth is inclusive, and is touching all of the people. But our general outlook in India is a fairly positive one,” he said.

Adrian said that “regulating crypto assets is certainly high on the agenda” for India when it comes to mid-term structural issues that the country needs to address in the coming years.

"That is something that is done globally. Within the financial stability board, we are trying to come up with global standards for crypto asset regulations. I think that's important for India to also adopt. Of course, I know that India has changed the taxation of crypto assets and that's a welcome move,” he said.

"Secondly, India is exploring central bank digital currencies. That could be quite important for financial inclusion and financial development, and we are watching very closely what India is doing. We welcome those policy developments as well,” the IMF official said.

Noting that financial markets and