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India’s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given “so many collapses and shocks in cryptocurrencies.” She stressed: “We seek to develop a common framework for all countries to deal with this matter.” India Seeks […]Powered by WPeMatico
The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. […]Powered by WPeMatico
The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF by May,” a government official said. India Finalizing […]Powered by WPeMatico
A recent survey by Deloitte shows that 82% of Indians plan to invest in cryptocurrency when the government provides more clarity surrounding the regulation of crypto assets. Moreover, 77.4% of respondents want cryptocurrency to be treated as securities. Indian Crypto Survey: 82% Plan to Invest in Crypto Once It Is Regulated Professional services firm Deloitte […]Powered by WPeMatico
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto. Crypto Bill Unlikely to […]Powered by WPeMatico
India’s prime minister, Narendra Modi, has called on governments worldwide to collaborate on cryptocurrency. He pointed out that “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges.” Indian Prime Minister Urges ‘Every Country, Every Global Agency’ to Collaborate on Cryptocurrency […]Powered by WPeMatico
The Indian government has reportedly proposed banning the use of cryptocurrency for payments and setting a deadline for investors to declare their crypto holdings. Violators may be arrested without a warrant and held without bail. In addition, the crypto bill may call for a uniform know-your-customer (KYC) process for all crypto exchanges. Proposed Rules in […]Powered by WPeMatico
The founder of Paytm, a major digital payment company in India, is “very positive about crypto.” Noting that cryptocurrency is here to stay, he expects it to become a mainstream technology in a few years. Paytm Founder Is ‘Very Positive About Crypto’ Vijay Shekhar Sharma, the founder of Paytm, said at a virtual conference organized […]Powered by WPeMatico
India’s central bank governor Shaktikanta Das has revealed that the bank has “major concerns” about cryptocurrencies, and it has informed the government of them. He expects that the government will soon make a decision on cryptocurrency. Meanwhile, the Reserve Bank of India (RBI) is giving its full attention to the digital rupee. RBI Has Major […]Powered by WPeMatico
The Indian government has spoken about the cryptocurrency bill again. This time, the minister of state for finance has clarified the status of the crypto bill that is expected to be introduced in parliament during the current session. Indian Ministry of Finance Clarifies Crypto Bill Status The subject of bitcoin and the cryptocurrency bill in […]Powered by WPeMatico