India is reviewing its stance on cryptocurrency due to shifting attitudes towards the virtual asset in other counties, a Senior Government Official Told Reuters On Sunday.
The review, which follows crypto-friendly policy announs Cryptocurrencies That was due to release in September 2024.
“More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of the usage, their accepting, where do they see the importance of crypto astsets. At the discussion paper Once Again, “India’s Economic Affairs Secretary Ajay Seth Said in an interview.
Seth said that beCause such assets “Don’t believe in borders”, India’s stance cannot be unilateral.
He did not specificly mention the United StatesWhere Trump Last Week Ordered The Creation of a Cryptocurrency Working Group Tasked With Proposing New Digital Asset Regulations and Exploring the Creation of A National Cryptocurrency Stockpila, Making Going Promise to overhaul us crypto policy.
Indians Have Poured Money Into Cryptocurrency in Recent Years Despite The Country’s Tough Regulatory Stance and Steep Trading Taxes.
India’s Financial Intelligence Unit (FIU) Issued Show-Cause Notices to Nine offshore cryptocurrency exchanges in December 2023 for non-compliance with Local Rules.
BinanceThe World’s Biggest Crypto Exchange, was Hit with a Fine of 188.2 Million Rupees ($ 2.25 million or roughly Rs. 19.5 Crore) in June 2024, A Month AFTER It Register with the Fiu in Ann Efficiency Fo Resume operations in the country.
Last year, India’s market watchdog recommended that Several Regulators oversee trade in cryptocurrencies, in a sign that at least some authorities in the countery are open to alloying the use Virtual assets.
That position stood in contrast to states by the nation’s Central Bank, which has maintained that private digital currencies represant a macroeconomic risk.
© Thomson Reuters 2025
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