{"id":95689,"date":"2018-12-31T12:25:26","date_gmt":"2018-12-31T20:25:26","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=95689"},"modified":"2018-12-31T12:41:01","modified_gmt":"2018-12-31T20:41:01","slug":"india-stalls-cryptocurrency-regulations-uncertainty-continues","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/","title":{"rendered":"India Stalls Cryptocurrency Regulations, Uncertainty Continues"},"content":{"rendered":"

India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, the Minister of State Finance, for enacting legislation, even in the December 28, 2018 meeting.<\/p>\n

December Passed: Still In a Limbo<\/h2>\n

The Indian Government and the domestic cryptocurrency exchanges had always been at odds with each other regarding the regulation of cryptocurrency in India.<\/p>\n

But even after two years, the Government is yet to clarify its stance on the regulatory policies of cryptocurrency. Not only that, the government doesn't even have any concrete plans regarding a timeline for finalizing the rules.<\/p>\n

According to Quartz<\/a>, as a reply to a fellow parliamentarian, the minister of state for finance, Pon Radhakrishnan is reported to have said on the Lok Sabha, the lower house:<\/p>\n

\n

\u201cIn absence of a globally acceptable solution and the need to devise a technically feasible solution, the department is pursuing the matter with due caution. It is difficult to state a specific timeline to come up with clear recommendations.\u201d<\/p>\n<\/blockquote>\n

This announcement comes as no shock for Indian crypto traders as they have already faced a roller coaster of rules and regulations within this span of time. Unfortunately, the uncertainty around regulation will continue to thwart cryptocurrency-related business in an economy of well over a billion people.<\/p>\n

Bans, Unmet Promises, the Fight Continues<\/h2>\n

The Indian crypto exchanges were blindsided by the crackdown<\/a> by the Reserve Bank of India (RBI) in April 2018. The RBI directive practically prohibited banks from dealing with virtual currency exchanges and traders. This was a crippling move.<\/p>\n

\"India
Related Story:\u00a0India Restricts Cryptocurrency in Favor of Own State-Backed Crypto<\/a><\/figcaption><\/figure>\n

The virtual money exchanges retorted by filing a case against RBI\u2019s stance in the apex court. This case is still ongoing.<\/p>\n

Meanwhile, the Supreme court had ordered the government to submit a report on the findings of the government\u2019s virtual currency panel that was formed in December 2017.<\/p>\n

But with this latest announcement from Pon Radhakrishnan, it is clear that India\u2019s Narendra Modi's Government is in no rush to dictate the crypto rules, or even give a ballpark figure on when the deadline would be set.<\/p>\n

For now, it does seem as though this impasse is set to continue even into 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, the Minister of State Finance, for enacting legislation, even in the December 28, 2018 meeting. December Passed: Still In a Limbo The Indian Government and the domestic cryptocurrency exchanges had always been at odds with […]<\/p>\n","protected":false},"author":106,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,11],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nIndia Stalls Cryptocurrency Regulations, Uncertainty Continues<\/title>\n<meta name=\"description\" content=\"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India Stalls Cryptocurrency Regulations, Uncertainty Continues\" \/>\n<meta property=\"og:description\" content=\"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-31T20:25:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-12-31T20:41:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Priyeshu Garg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"India Stalls Cryptocurrency Regulations, Uncertainty Continues\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Priyeshu Garg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\"},\"author\":{\"name\":\"Priyeshu Garg\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/65cc4f759accbe9de3080a5711e7cea1\"},\"headline\":\"India Stalls Cryptocurrency Regulations, Uncertainty Continues\",\"datePublished\":\"2018-12-31T20:25:26+00:00\",\"dateModified\":\"2018-12-31T20:41:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\"},\"wordCount\":388,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"articleSection\":[\"Exchanges\",\"Regulation\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#respond\"]}],\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\",\"url\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\",\"name\":\"India Stalls Cryptocurrency Regulations, Uncertainty Continues\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2018-12-31T20:25:26+00:00\",\"dateModified\":\"2018-12-31T20:41:01+00:00\",\"description\":\"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"India Stalls Cryptocurrency Regulations, Uncertainty Continues\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":[\"Organization\",\"NewsMediaOrganization\"],\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/cryptoslate.substack.com\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"actionableFeedbackPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/advertising\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/65cc4f759accbe9de3080a5711e7cea1\",\"name\":\"Priyeshu Garg\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/08\/author-priyeshu-garg-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/08\/author-priyeshu-garg-150x150.jpg\",\"caption\":\"Priyeshu Garg\"},\"description\":\"Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.\",\"url\":\"https:\/\/cryptoslate.com\/author\/priyeshu-garg\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"India Stalls Cryptocurrency Regulations, Uncertainty Continues","description":"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/","og_locale":"en_US","og_type":"article","og_title":"India Stalls Cryptocurrency Regulations, Uncertainty Continues","og_description":"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.","og_url":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/","og_site_name":"CryptoSlate","article_published_time":"2018-12-31T20:25:26+00:00","article_modified_time":"2018-12-31T20:41:01+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg","type":"image\/jpeg"}],"author":"Priyeshu Garg","twitter_card":"summary_large_image","twitter_title":"India Stalls Cryptocurrency Regulations, Uncertainty Continues","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Priyeshu Garg","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/"},"author":{"name":"Priyeshu Garg","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/65cc4f759accbe9de3080a5711e7cea1"},"headline":"India Stalls Cryptocurrency Regulations, Uncertainty Continues","datePublished":"2018-12-31T20:25:26+00:00","dateModified":"2018-12-31T20:41:01+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/"},"wordCount":388,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"articleSection":["Exchanges","Regulation"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#respond"]}],"copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/","url":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/","name":"India Stalls Cryptocurrency Regulations, Uncertainty Continues","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2018-12-31T20:25:26+00:00","dateModified":"2018-12-31T20:41:01+00:00","description":"India\u2019s government has continued its \u201cundecided\u201d stance on regulation around the cryptocurrency ecosystem. No timeline was promised by Pon Radhakrishnan, Minister of State Finance.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/india-stalls-cryptocurrency-regulations-uncertainty-continues\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"India Stalls Cryptocurrency Regulations, Uncertainty Continues"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":["Organization","NewsMediaOrganization"],"@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/cryptoslate.substack.com","https:\/\/t.me\/cryptoslatenews","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","actionableFeedbackPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","correctionsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/advertising\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/65cc4f759accbe9de3080a5711e7cea1","name":"Priyeshu Garg","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/08\/author-priyeshu-garg-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/08\/author-priyeshu-garg-150x150.jpg","caption":"Priyeshu Garg"},"description":"Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.","url":"https:\/\/cryptoslate.com\/author\/priyeshu-garg\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/95689"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=95689"}],"version-history":[{"count":8,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/95689\/revisions"}],"predecessor-version":[{"id":95697,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/95689\/revisions\/95697"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=95689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=95689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=95689"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=95689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}