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

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

Decrypt Revolutionizes News Consumption with Integrated Trading

Decrypt has integrated perpetual futures trading powered by Phoenix, allowing users to trade directly from the platform, enhancing the connection between news consumption and trading actions.

user avatarAndrew Smith

Arca Desktop App Now Open to Public for AI Session Monetization

The Arca desktop app has launched to the public, allowing users to monetize their AI session data.

user avatarJacob Williams

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.