Currently, India is working on cryptocurrency regulation as the government considers taking a “middle path”. Which of course, will balanc all stakeholders’ concerns for regulating cryptocurrencies,. So, this is according to reprots by the Economic Times.
Furthermore, it’s not a feasible move for an outright ban on cryptocurrencies due to the increasing number of investment in crypto assets. Then, also making cryptocurrencies legal tender, like El Salvador is not also an option.
“A balance has to be found … A middle path…”
“that balances the concerns of all stakeholders is more likely.”
Furthermore, Policymakers gives presentation around the finance ministry and cryptocurrency. More so, it also covers the pros and cons of cryptocurrencies, regulation by other countries. Of course, also crypto investments by Indians, and the view of the central bank. Then, the Reserve Bank of India (RBI), on crypto.
Notably, India’s central bank has always mentions having
“serious concerns” around crypto.
Furthermore, some other presentation suggests using cryptocurrency for taxation. Meanwhile, the source notes there’s noting that the crypto legislation will go to the Cabinet after legal vetting. Which of course, will be in the upcoming winter session of parliament. Notably, The winter session kicks off on Nov. 29.
More so, CNBC-TV18 reports how India government is working to rebrand a cryptocurrency bill. Then, goes ahead to mention sources sayinh the bill is likely to be active at the start of the winter session of parliament.
over Bezos, according to the Bloomberg Billionaire Index.