India's bid to come to a consensus within the Group of 20 (G20) nations to ban cryptocurrency hit a roadblock as the nations stopped short of going for an outright ban. They instead agreed to continue an international debate on cryptocurrency regulation, with the final outcome document citing a consideration towards "coordinated and comprehensive policy approach to crypto assets" from "macroeconomic and regulatory perspectives, including the full range of risks posed by crypto assets."
The growing uproar against cryptocurrency is significant following the collapse of cryptocurrency exchange FTX in November shook crypto assets such as bitcoin worldwide.