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Policy 4.0 suggests a wallet-based approach to regulate crypto in India
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livemint.comNEW DELHI: Emerging technology think tank, Policy 4.0, has suggested a wallet-based solution for India to tackle the spectrum of regulatory risks the government faces with cryptocurrencies. The report recommended that India should build its own “India Wallet" to tackle know your customer (KYC), the inflow and outflow of cryptocurrency, and monetary concerns.
The government and industry experts recently held talks on how to move forward on cryptocurrency in India. The Centre is reportedly considering regulating crypto as a commodity than a currency.
According to the Policy 4.0 report, for the moment, the default characterisation of tokens as ‘commodities’ may serve as a starting point, even though, according to the think tank, it may not
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