G-20 will deliberate on crypto as one constituent of countering terrorism: Kwatra

New Delhi: India on Wednesday highlighted the use of crypto-currencies in spreading terrorism across nations and asserted that crypto will form one constituent of countering terrorism at the G20 deliberations.

Speaking at a special briefing on G20 Foreign Ministers' Meeting, Foreign Secretary Vinay Kwatra said, "What we expect from tomorrow's meet is a clear, strong all-encompassing message on the problem of terrorism on its challenges and the need for the G20 countries to come together to fight, address and defeat it comprehensively. Naturally, crypto will form one constituent of it." The G20 Foreign Ministers Meeting (FMM) is scheduled to take place in physical format from March 1-2, 2023 in New Delhi under India's presidency. Representatives of 40 countries, including non-G20 members invited by India, and multilateral organisations will attend.

"When you talk of countering terrorism, there are many sub-verticals that you need to deal with. Money laundering is one of them, and narco-financing is another old issue when you talk of terrorism in the early 90s. Now, Crypto is relatively new in that sense because. It is essentially a financial product which is centred in technology pretty much," said Kwatra.
The Foreign Secretary also reminded that at the Finance Ministers and Central Bank Governor's meeting in Bengaluru, crypto was devoted extensive time.

"The Finance Ministers and Central Bank Governor's meeting in Bengaluru devoted extensive time to this issue and has already discussed it at length. But at tomorrow's meeting the larger challenger of counter-terrorism, counter-narcotics would be in focus with the foreign ministers and we hope to get some clear recommendation coming out from that meeting," said Kwatra.
The foreign ministers are also likely to discuss ways to deal with falling economic growth, increasing inflation, lower demands for goods and services as well as increasing prices of food, fuel and fertilisers.

"For India, the questions relating to the food, energy and fertiliser security the impact that the conflict has on these economic challenges we face, the development cooperation template that India wants to talk about, new and emerging threats- the problem of counter-terrorism, counter-narcotics, each one of them is a very significant and substantial issue which is absolutely crucial for the global south," said Kwatra.

Talking about Japanese Foreign Minister Yoshimasa Hayashi not attending G20 FMM, Kwatra said, "We understand that the Japanese Foreign Minister is not able to come because of his domestic compulsions but we are looking forward to a very active participation, active support in consultation with the Japanese delegation that is coming."

Deputy Foreign Minister Kenji Yamada is scheduled to visit New Delhi, India, to attend the G20 Foreign Ministers' Meeting from March 1 to 3, read Japan's Ministry of Foreign Affairs press release.

Absolutely no doubt, our discussion, and Japanese delegation participation will bring value to it. India and Japan enjoy sterling cooperation...the FM is not able to come due to domestic engagement," Kwatra added on India-Japan relations. (ANI)