Indian start-up organization proposes regulatory framework for crypto
An internet startup association in India has asked the government to define cryptocurrencies like Bitcoin as digital assets and not currencies. IndiaTech.org, an industry association representing India’s consumer internet startups and investors, is backing wants to provide clear definitions for the cryptocurrency industry.On Wednesday, the association released a white paper including a policy proposal with recommendations for a regulatory framework for crypto-assets and crypto exchanges in India.The proposed framework suggests to define cryptocurrencies like Bitcoin (BTC) as digital assets....
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“Crypto exchanges want to be part of IndiaTech because we have moved the needle in the past few months on the narrative and perception of this industry," said Rameesh Kailasam. Cryptocurrency exchange Zebpay and others doing business in India will reportedly be joining IndiaTech, an association aimed at providing regulatory clarity for crypto in the country.According to a Monday report from The Economic Times, executives from some of India’s crypto exchanges said their businesses are considering joining IndiaTech in an effort to pressure the government to regulate crypto, with Zebpay....
An industry group of Indian bitcoin and blockchain-startups have sought an audience with the government as the latter looks to plausibly outline a regulatory framework for the innovation. The Indian government established a cryptocurrency ‘committee’ last week, one comprising of a number of officials from Indian ministries alongside representatives from the country’s central bank to research the framework surrounding digital currencies. The committee was notably co-established by the Ministry of Finance, India’s tax authority. Pertinently, the committee is tasked toward looking into....
India plans to discuss crypto regulations during its G20 presidency with member countries. Finance Minister Nirmala Sitharaman has revealed that the Indian government hopes to arrive at a framework or standard operating procedure (SOP) so that countries globally “can have a technology-driven regulatory framework” for crypto. India to Discuss Crypto Regulatory Framework With G20 Member Countries Indian Finance Minister Nirmala Sitharaman shared the government’s plan regarding crypto regulation Saturday before concluding her trip to Washington, D.C., to attend the annual....
CoinDCX’s Series C funding was led by B Capital Group, a VC firm from Facebook co-founder Eduardo Saverin. Mumbai-based crypto exchange CoinDCX has raised $90 million in a Series C funding round, becoming the first crypto business in India to reach unicorn status. According to an announcement, the funding round was led by B Capital Group and saw participation from returning investors including Block.one, Coinbase Ventures, Polychain and Jump Capital.Following the investment round, CoinDCX reached a valuation of $1.1 billion, placing the company among crypto giants such as Binance and....
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto.
Crypto Bill Unlikely to Be Introduced in the Budget Session of Parliament
The Indian government may not introduce a cryptocurrency bill in the upcoming session of Parliament, the Economic Times reported Wednesday.
The....