India to Release Consultation Paper on Crypto Regulation

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Public Opinion and Regulation
  2. Current Regulatory Measures
  3. Internal Divergence and Next Steps


    4. India is gearing up for significant changes in crypto regulation with a new consultation paper set to be released between September and October 2024.

    Public Opinion and Regulation

    The upcoming paper will seek feedback from various stakeholders. This reflects the government’s commitment to creating a strong framework for crypto regulation. Moreover, this initiative aligns with the broader global effort, particularly within the G20, to establish a unified approach to regulating digital assets.

    Current Regulatory Measures

    The country currently focuses on anti-money laundering (AML) and counter-terror financing (CTF) measures, extended to crypto assets and intermediaries since March 2023. Furthermore, the upcoming consultation paper will address key policy questions, including the scope and extent of regulation in the crypto space.

    Internal Divergence and Next Steps

    Indian authorities are grappling with differing views on how to handle private virtual asset trading. The Securities and Exchange Board of India (SEBI) is reportedly more open to allowing such activities, while the Reserve Bank of India (RBI) remains cautious, citing concerns about potential macroeconomic risks. These differing stances highlight the complexity of creating a balanced and comprehensive crypto policy.

    The forthcoming consultation paper by the Department of Economic Affairs will be a significant step towards developing a more detailed and inclusive regulatory framework for cryptocurrencies in India.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

US Treasury Department Moves to Cut MEXC Global from Financial System

The US Treasury Department has taken action against MEXC Global, a cryptocurrency exchange, to sever its ties with the American financial system due to accusations of facilitating over $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

user avatarLucas Weissmann

Political Fallout from Ueno Bank Crisis in Paraguay

The Ueno Bank crisis has triggered significant political repercussions in Paraguay, including the resignation of President Santiago Peña and potential impeachment proceedings.

user avatarFilippo Romano

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.