India's Minister of Finance and Corporate Affairs Nirmala Sitharaman reiterated the country's negative attitude towards cryptocurrencies such as Bitcoin (CRYPTO: BTC) during a recent International Monetary Fund (IMF) panel.
What happened: Local news outlet Outlook India reported that during the IMF meeting on Monday Sitharaman raised concern over the risks posed by cryptocurrencies circulating in unregulated environments, highlighted the need for coordinated efforts to mitigate them and the development of central bank digital currencies (CBDCs). She was taking part in the high-level panel "Money at a Crossroad," hosted by IMF managing director Kristalina Georgieva.
