India, the current chair of the G20, has supported the Financial Stability Board’s (FSB) guidelines for a global crypto framework.

The country has called for the consideration of the risks associated with digital assets, particularly for developing economies.

India's Presidency Note for a global crypto framework roadmap additionally suggested improved outreach to generate awareness of crypto-related risks, with particular emphasis on countries with higher levels of crypto adoption.

The overarching aim is to extend the framework's scope beyond just the G20's remit. The FSB guidelines urge crypto platforms to segregate client's digital assets from their own funds, mandate strong cross-border oversight, and require stablecoin issuers to obtain a license in any single jurisdiction before operating there.

The proposals have been supported by other international finance institutions including the Financial Action Task Force and the International Monetary Fund.

A Synthesis Paper from these organisations, setting out widespread adoption strategy, is expected to come out at the end of August.