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28.11 - 22:25
India to soften position on regulating cryptos by taking ‘middle path’
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With cryptocurrency adoption showing no signs of stopping, India is reportedly leaning towards a neutral stance as far as regulation is concerned. This is interesting, especially since there were rumors that the winter session of the Indian parliament will see the cryptocurrency bill being introduced. However, recent reports suggest that its previous hardliner approach might be softening of late.
Since the crypto-industry has already captured a huge market share in the nation amounting to billions of dollars, placing a blanket ban would be detrimental for a huge number of investors. On the other hand, it is highly unlikely that a legal tender status would be awarded.
Hence, a “balanced” approach would have to be followed, according to a
Read more on ambcrypto.comAbout this in other media
India: Survey finds majority distrust cryptos, don’t support taxation, legalization ambcrypto.com /2 years ago
Cryptocurrency regulation: Here’s what countries around the world have done moneycontrol.com /2 years ago
Cryptocurrency is a bogey that Indian govt needs to ban, not regulate cnbctv18.com /2 years ago
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