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India may tighten regulation of cryptocurrency trading and holding norms
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livemint.comIndia plans to tighten regulation of cryptocurrencies to deter investors from holding them though the government is unlikely to follow through with an earlier plan to ban private digital coins, according to two sources familiar with the discussions.
Instead, it could allow only those that have been pre-approved by the government to be listed and traded on exchanges -- an intentionally cumbersome process, said the sources, who asked not to be named as the discussions are private.
"Only when a coin has been approved by the government can it be traded, else holding or trading it in may attract a penalty," said the first source.
The government aims to introduce and pass a cryptocurrency law in the parliamentary session that begins this month.
Read more on livemint.comAbout this in other media
Indian Crypto Bill To Regulate, Not Ban 'Private Cryptocurrencies' - Report cryptonews.com /2 years ago
Centre may bring cryptocurrency exchanges under ambit of Sebi: Report moneycontrol.com /2 years ago
Cabinet note suggests India will regulate, rather than ban, crypto cointelegraph.com /2 years ago
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