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Cabinet Note On Cryptocurrency In The Past Weeks By NDTV EXCLUSIVE

So, Just a few weeks ago, a lot of news was going around concerning Cryptocurrency in India. Of course, this makes some newbies confused on what the whole matter is all about. So, we are now bringing you exclusive as regards the Cabinet Note On New #Crypto Bill In India.

Firstly, There’s Only A Change In The Name Of Legislation. So, From Cryptocurrency To Crypto Assets

Secondly, All private #Cryptocurrency Will Be REGULATED, But Not Banned

Thirdly, The Indian Government Does Not Want #Crypto To Go Into The Dark Net, MIDDLE PATH followed

Fourthly, Cryptocurrency In India Is To Be Regulated By SEBI. Notably, SEBI is the short form of Securities and Exchange Board of India. So, according to Wikipedia, The Securities and Exchange Board of India is the regulatory body for securities and commodity market in India under the jurisdiction of Ministry of Finance, Government of India. Also, It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

Furthermore, The fifth point to note; Cryptocurrency Will NOT be Regulated As A Legal Tender

Lastly, RBI Digital Currency Is NOT clubbed with the new #crypto bill

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.