Indian Government Consulting With IMF, World Bank on Crypto Policy
India’s government is consulting with the International Monetary Fund (IMF), the World Bank, and Indian regulators in order to form the country’s crypto policy. “We have reached out to institutional stakeholders within the country and outside. We are taking inputs from the IMF and the World Bank and incorporating these,” said an official from the Indian ministry of finance. Indian Government in Talks With IMF, World Bank, RBI, SEBI on Crypto Policy Indian finance ministry officials are discussing a framework for cryptocurrency with various....
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The Indian government is consulting with the Reserve Bank of India (RBI) on crypto policies. According to the finance minister, the government and the central bank are in “complete harmony” on crypto and other issues. Indian Government and Central Bank Discussing Crypto Policies Internally Indian Finance Minister Nirmala Sitharaman revealed Monday that the government is discussing crypto policies with the central bank, the Reserve Bank of India (RBI). At the conclusion of the RBI’s board meeting, the finance minister told reporters that the government and the central....
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper currency.” Indian Parliament Asks Government About ‘RBI Cryptocurrency’ The Indian ministry of finance answered some questions Tuesday in Rajya Sabha, India’s upper house of parliament, regarding “RBI....
The Indian government is reportedly planning to introduce cryptocurrency regulation by the time of the next general Budget, which is in February next year. Instead of banning cryptocurrencies, like bitcoin, the government is likely to regulate crypto assets as commodities, according to reports. Indian Crypto Law Could Comes as Early as February The Indian government is planning to introduce cryptocurrency regulation in February next year, local news outlet Business Today reported, elaborating: Finance Ministry officials have told Business Today Television that a law for cryptocurrencies....
Indian finance minister reiterated RBI’s stance on the crypto market, claiming it’s driven by speculation. Indian finance minister Nirmala Sitharaman has called for global collaboration on cryptocurrencies, assessing their pros and cons to form a common standard and taxonomy.Addressing a question on cryptocurrency in the Lok Sabha, the lower house of the Indian parliament, Sitharaman said that the Indian central bank had advised the government to prohibit the use of cryptocurrencies as it poses a risk to financial stability. However, the government is looking for a global approach. She....
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....