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India’s Government May Form Panel to Study Regulating Crypto: Report
The news comes amid the view that proposals for a blanket ban are outdated.
Updated Sep 14, 2021, 12:57 p.m. Published May 19, 2021, 9:21 a.m. 1 min read
The government of India may form a panel of experts to examine regulating cryptocurrencies, according to an Economic Times report.
- The committee’s remit would be to suggest ways of regulating crypto as digital assets rather than currency, ET reported Wednesday, citing three sources familiar with the matter.
- The prevailing view is that proposals for a blanket ban are now outdated, according to the report.
- Discussions are at an early stage and no formal decisions have been made.
- Proposed legislation to ban crypto was said to be in its final stages in March, with the Reserve Bank of India said to be encouraging banks to sever ties with exchanges.
- A pivot away from prohibition and toward regulation would be a sizable boon for crypto in India, which has witnessed considerable adoption despite the uncertainty.
- The committee would also explore the wider use of blockchain technology and study ways to develop a digital rupee, according to ET.
Lebih untuk Anda
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
Yang perlu diketahui:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
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