The second-most populated nation will reportedly implement a regulatory framework on cryptocurrencies only after a global consensus on the matter. According to a person familiar with the matter, the Indian government does not plan a law soon to either restrict or promote dealing with digital assets.
Crypto Regulation Needs Global Approach
India is among the countries with the most controversial stance on the cryptocurrency industry. Over the past few years, the authorities have announced intentions to ban and criminalize the usage of the asset class. Later, they abandoned these plans, insisting that regulation would be a better step than a blanket ban.
However, it remains unknown how and when India will impose a regulatory framework on the sector.
According to recent coverage by Bloomberg, the government will take a stance only after reaching a consensus with other countries. An individual familiar with the matter further revealed that India has no intentions to either tighten or encou
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