Jakarta (ANTARA) - Finance Minister Sri Mulyani underscored the need for crypto assets to be regulated by a global policy standard, affirming that such assets constitute ever-developing instruments that can give rise to several opportunities and present challenges.

Currently, crypto assets are regulated and supervised by diverse provisions and regulations formulated and implemented by different countries within their own jurisdictions.

"We need a global standard to regulate and supervise crypto assets while applying the principles of same activity, same risk, and same regulation," she remarked at an event under India's G20 agenda, as cited from an official statement received here on Wednesday.

The event was a discussion activity themed "Policy Dialogue: Round Table Discussion on Crypto Assets."

In accordance with the Bali Fintech agenda, Minister Mulyani expressed optimism that by formulating a crypto assets global policy standard, countries will be able to improve consumer protection while continuing to make technological innovations.

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A global standard will help countries overcome various challenges related to digital assets, such as consumer protection, money laundering, terrorism funding, and market manipulations, she elaborated.

Furthermore, the minister noted that a common standard among countries will boost transparency and accountability in the crypto industry, which, in turn, can increase the users' confidence in the industry.

On the occasion, Minister Mulyani also highlighted Indonesia's Financial Sector Development and Strengthening (P2SK) Law as the country's instrument to uphold the principles in dealing with matters related to crypto assets.

The roundtable discussion activity was held on Tuesday (July 18) on the occasion of the Third Meeting of G20 Finance Ministers and Central Bank Governors (3rd G20 FMCBG) in Gandhinagar, Gujarat, India.

The activity served as a platform for the participants to openly discuss several key questions pertaining to crypto assets.

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Translator: Agatha Olivia, Tegar Nurfitra
Editor: Yuni Arisandy Sinaga
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